UK bonds were swept up in another selloff as investors grew increasingly anxious about Britain’s finances, given the risk of fresh challenges to Prime Minister Keir Starmer’s leadership.
UK bonds were swept up in another selloff as investors grew increasingly anxious about Britain’s finances, given the risk of fresh challenges to Prime Minister Keir Starmer’s leadership.
Prime Minister Keir Starmer during a speech in London, on May 11.
UK bonds were swept up in another selloff as investors grew increasingly anxious about Britain’s finances, given the risk of fresh challenges to Prime Minister Keir Starmer’s leadership.
UK bonds were swept up in another selloff as investors grew increasingly anxious about Britain’s finances, given the risk of fresh challenges to Prime Minister Keir Starmer’s leadership.
Prime Minister Keir Starmer during a speech in London, on May 11.
Global bonds rallied as the prospect of a peace deal between the US and Iran drove down energy prices, curbing bets on interest-rate hikes as inflation expectations eased.
Global bonds rallied as the prospect of a peace deal between the US and Iran drove down energy prices, curbing bets on interest-rate hikes as inflation expectations eased.
UK long-term borrowing costs jumped to a 28-year high as worries intensified over local government elections and the impact of soaring energy prices on the economy.
UK long-term borrowing costs jumped to a 28-year high as worries intensified over local government elections and the impact of soaring energy prices on the economy.
The Elizabeth Tower in the Westminster district of London.
The UK will begin selling 12-month Treasury bills at its weekly auctions, as part of the government’s efforts to tilt its borrowing toward shorter-maturity debt.
The UK will begin selling 12-month Treasury bills at its weekly auctions, as part of the government’s efforts to tilt its borrowing toward shorter-maturity debt.
Treasuries rose as oil benchmarks retreated toward last week’s lows, lessening pressure on future inflation readings that have become the bond market’s main driver.
Treasuries rose as oil benchmarks retreated toward last week’s lows, lessening pressure on future inflation readings that have become the bond market’s main driver.
A truck is refueled with fuel at a gas station in Sacramento, California. Photographer: David Paul Morris/Bloomberg
US Treasuries advanced after President Donald Trump said Iranian officials were seeking an agreement on terms to end the war, triggering a pullback in oil prices and a drop in the dollar.
US Treasuries advanced after President Donald Trump said Iranian officials were seeking an agreement on terms to end the war, triggering a pullback in oil prices and a drop in the dollar.
German and UK bonds surged after energy prices sank following a ceasefire between the US and Iran, prompting traders to slash bets on rate hikes this year.
German and UK bonds surged after energy prices sank following a ceasefire between the US and Iran, prompting traders to slash bets on rate hikes this year.
The European Central Bank headquarters in Frankfurt.
Short-dated gilts snapped their best streak in more than a month, swinging back to losses after US President Donald Trump’s pledge to extend attacks on Iran for weeks revived inflation fears.
Short-dated gilts snapped their best streak in more than a month, swinging back to losses after US President Donald Trump’s pledge to extend attacks on Iran for weeks revived inflation fears.
Andrew Bailey, governor of the Bank of England (BOE), during a monetary policy report news conference at the central bank's headquarters in the City of London, UK, on Thursday, Feb. 5, 2026. The Bank of England came within a vote of cutting interest rates as policymakers split 5-4 in favour of holding at 3.75%, after its updated forecasts showed inflation falling below target, growth slowing and unemployment rising. Photographer: Chris Ratcliffe/Bloomberg
The Iran war has clouded the outlook for inflation and economic growth across the globe and, in turn, where interest rates might be heading.
The Bank of England (BOE) in the City of London, UK, on Monday, Dec. 15, 2025. A widely anticipated interest-rate cut by the Bank of England this week will force policymakers to confront whether their easing cycle is nearing its end almost 1 1/2 years after it began. Photographer: Jason Alden/Bloomberg
Bonds across Europe surged as oil prices and inflation expectations eased on hopes that the Iran war may end in the coming few weeks, potentially turning the page on a torrid period for global markets.
Bonds across Europe surged as oil prices and inflation expectations eased on hopes that the Iran war may end in the coming few weeks, potentially turning the page on a torrid period for global markets.
Sovereign bonds rose around the world as concern the Middle East conflict will derail global economic growth revived demand for beaten-down government debt.
Sovereign bonds rose around the world as concern the Middle East conflict will derail global economic growth revived demand for beaten-down government debt.
The US Treasury building in Washington, DC, US, on Tuesday, Aug. 5, 2025. The US government plans to borrow $100 billion in a single Treasury debt sale this week, an unprecedented figure that showcases both the magnitude of its borrowing needs and its ability to attract investors. Photographer: Al Drago/Bloomberg
Trading in two-year German bond futures was halted twice on Monday, leaving traders struggling to keep up with swings triggered by US President Donald Trump’s decision to back down from strikes on Iran’s energy infrastructure.
Trading in two-year German bond futures was halted twice on Monday, leaving traders struggling to keep up with swings triggered by US President Donald Trump’s decision to back down from strikes on Iran’s energy infrastructure.
Traders boosted wagers on European Central Bank interest-rate hikes, fully pricing three quarter-point increases this year as rising energy prices fueled inflation worries.
Traders boosted wagers on European Central Bank interest-rate hikes, fully pricing three quarter-point increases this year as rising energy prices fueled inflation worries.
Christine Lagarde Photographer: Alex Kraus/Bloomberg
Traders are fully pricing two interest-rate hikes from the European Central Bank this year, as an attack on Iranian gas assets revives fears of an inflation spike.
Traders are fully pricing two interest-rate hikes from the European Central Bank this year, as an attack on Iranian gas assets revives fears of an inflation spike.
German bonds fell for a second day, sending government borrowing costs to the highest level since October 2023 on worries the war in Iran will stoke inflation further.
German bonds fell for a second day, sending government borrowing costs to the highest level since October 2023 on worries the war in Iran will stoke inflation further.
A sharp swing in European money markets from bets on central bank interest-rate cuts to hikes has caught traders off guard, forcing some to exit options at hefty losses.
A sharp swing in European money markets from bets on central bank interest-rate cuts to hikes has caught traders off guard, forcing some to exit options at hefty losses.
The European Central Bank headquarters in Frankfurt.
Just a month ago, European Central Bank President Christine Lagarde declared that inflation was in a “good place.” With Europe now hurtling toward another energy crisis, traders are struggling to figure out how bad it could get.
Just a month ago, European Central Bank President Christine Lagarde declared that inflation was in a “good place.” With Europe now hurtling toward another energy crisis, traders are struggling to figure out how bad it could get.
Prices at a petrol station in Saint-Leonard, northern France, on March 9. Photographer: Sameer Al-Doumy/Getty Images
Just a month ago, European Central Bank President Christine Lagarde declared that inflation was in a “good place.” With Europe now hurtling toward another energy crisis, traders are struggling to figure out how bad it could get.
Just a month ago, European Central Bank President Christine Lagarde declared that inflation was in a “good place.” With Europe now hurtling toward another energy crisis, traders are struggling to figure out how bad it could get.
Prices at a petrol station in Saint-Leonard, northern France, on March 9. Photographer: Sameer Al-Doumy/Getty Images
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