10-year UK gilt yields rose to their highest level since May 21 after renewed
inflation fears from heightened US–Iran tensions and US President TRUMP saying
an Iran ceasefire agreement has ended, which pushed oil prices higher. Investor
concern about UK public finances ahead of a pending change in leadership added
pressure; Prime Minister Starmer said he will resign in June and frontrunner
Andy Burnham has outlined ambitious plans that could make it harder to maintain
strict fiscal rules, Ebury's Matthew Ryan said.