[MARKET UPDATE] Gilts open lower by 113 ticks as markets price in the increasing possibility of Burnham becoming PM

The drop in gilt prices reflects market apprehension surrounding potential political changes, specifically the increasing likelihood of Burnham becoming Prime Minister.

Newsquawk StaffPublished 15 May 2026, 07:20 UTCOn the live feed at 07:00 UTC — 4 more headlines followed before this page went public

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07:08

European Movers: BP (BP/ LN) +1.1%, ASM International (ASM NA) -3.2%, ASML (ASML NA) -2.9%, Societe Generale (GLE FP) -1.2%, LVMH (MC FP) -0.7%

07:04

UAE is to complete the construction of a new West-East pipeline project in 2027, Bloomberg reports

07:00

[MARKET UPDATE] Gilts open lower by 113 ticks as markets price in the increasing possibility of Burnham becoming PM

06:50

Ukrainian drones struck Russian oil refinery in Ryazan region, commander of Ukrainian drone forces says

06:40

Samsung Electronics' (005930 KS) South Korea union tells executives that talks would be possible only when key union demands are put on the table

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Opened at 85.70, just above the 85.45 contract low.
From a yield perspective, the 10yr first looks to 5.11% before the 5.13% peak from the 12th of May, which roughly aligns with levels from July 2008. If surpassed, we have the 2008 peak of 5.26% and 5.57% from 2007. For the 30yr, its YTD peak is 5.81%, and if breached, we look to 5.96% from 1998.

Context

This pricing in of political risk may affect investor sentiment, particularly in fixed income markets, where yields could rise further if uncertainty persists.

All markets · last 90 days

Recent headlines that moved markets

EQUITIES/8 Sept · 05:24 UTC

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ENERGY/8 Sept · 05:23 UTC

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ENERGY/3 Sept · 08:03 UTC

Russian President Putin says that Russia and Ukraine should agree first; he notes that there is an opportunity to reach a peace agreement.

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EQUITIES/3 Sept · 04:54 UTC

North Korea stripped references to "peaceful unification" with South Korea from the charter of its ruling Workers' Party of Korea, according to Yonhap.

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EQUITIES/1 Sept · 16:17 UTC

Initial reports of an American attack on Iran, reports i24's Stein.

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ENERGY/1 Sept · 16:17 UTC

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