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U.K. government borrowing costs spiked on Wednesday, amid question marks over the political future of Finance Minister Rachel Reeves and Britain's fiscal credibility.
The yield on benchmark 10-year government bonds, known as gilts, was 22 basis points higher at 1:33 p.m. in London. By 3:22 p.m. gilts were off highs but were still trading 17 basis points higher.
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