UK 10Y Gilt Yield Rises Above 5.114% as Burnham Challenges Starmer on Friday

GateNews

According to Jin10 Data, UK 10-year gilts surged above 5.114% on Friday (May 15) as Andy Burnham, the current Manchester mayor, prepared to challenge Prime Minister Starmer for Labour party leadership through a parliamentary by-election. The 2-year and 5-year gilt yields also rose modestly, each gaining less than 1 basis point.

Bond markets reflect investor concerns that Burnham’s left-leaning policy stance could lead to expanded government borrowing and higher debt levels if he assumes office, following Labour’s significant losses in local elections last week.

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