Gilt Swings Unnerve Investors as Starmer Faces Calls to Resign

UK government bonds and the pound came under pressure as Prime Minister Keir Starmer fended off calls to resign, rattling investors worried about another bout of political uncertainty.

Longer-dated UK government bonds swung on Monday, with 10-year yields rising as much as eight basis points before falling back to trade one point higher at 4.53% after Starmer’s cabinet voiced their support for the prime minister. The pound fell as much as 0.7% against the euro, hitting the weakest level since Jan. 21, before also paring its losses.