Schroders Stays Clear of UK Bonds, Citing Risk Starmer Is Ousted

A Schroders Plc bond-fund manager is steering clear of UK debt on concern that political upheaval will drag yields higher in the coming months.

James Ringer, a fund manager at the London-based firm, is among investors worried that Prime Minister Keir Starmer will be ousted in favor of a new leader more willing to increase fiscal spending. While 10-year yields around 5% are close to the highest level since 2008, he said that’s still not enough compensation to resume the firm’s previously bullish view on gilts.