[MARKET UPDATE] Gilts open lower by 73 ticks, hit a 85.82 trough, in close proximity to the 85.76 contract low. Weighed on by growing pressure against PM Starmer into a potentially crucial Cabinet Meeting around 09:30BST.

Gilts are trading lower as they approach recent lows, indicating increased pressure driven by political developments regarding PM Starmer ahead of an important Cabinet Meeting. This sell-off suggests rising concerns about fiscal stability, which may influence yield expectations and overall market sentiment as tensions around governance grow ahead of key decisions.