Barclays analysts said political uncertainty may push UK government bond yields
higher. Keir Starmer stepped down in June and the UK is awaiting a new prime
minister; if unchallenged, Andy Burnham is widely expected to succeed him on
July 20. Analysts warned the UK’s weak public finances may pose a challenge for
the incoming prime minister. Escalating Middle East tensions have lifted global
bond yields, with UK gilts rising more than eurozone peers.