UBS Investment Bank analyst Mustafa says UK gilts still embed about a 20 bps political risk premium from this year’s turmoil. Prime Minister Andy Burnham’s verbal commitment to uphold fiscal rules may limit additional domestic fiscal risk premium. TRADEWEB DATA show the 10-year gilt yield rose 1.2 bps intraday to 5.058%.

2026-08-20

UBS Investment Bank analyst Mustafa says UK gilts still embed about a 20 bps political risk premium from this year’s turmoil. Prime Minister Andy Burnham’s verbal commitment to uphold fiscal rules may limit additional domestic fiscal risk premium. TRADEWEB DATA show the 10-year gilt yield rose 1.2 bps intraday to 5.058%.