The bond market has finally lost patience with Labour. The 10-year gilt yield this week is back above 5% – around 5.09% as I write – its highest since the 2008 financial crisis. The 30-year gilt has touched 5.81%, its highest since 1998. Labour’s credibility is being repriced in real time. And the omens are not good. Investors, like the rest of us, are watching a Prime Minister losing more authority by the day, and succession speculation increasing by the hour, with talk of a more fiscally left-leaning Labour leadership waiting in the wings [...]