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UK Gilt Yields Jump, Pound Drops as Burnham Announces Candidacy

5/15/2026

50 6 Full Breakdown

Summary

Story summary

UK gilt yields rose 11 bps to 5.10% after Andy Burnham announced his run for Parliament.
The pound fell to $1.3395, lowest level since April 13, after Burnham’s announcement.
Burnham will seek nomination for Makerfield after MP Josh Simons stands down.
Nigel Farage pledged to commit everything to the Makerfield contest, calling it a test.
Wes Streeting quit as health secretary, urging Prime Minister Keir Starmer to trigger a contest.

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Story summary

UK gilt yields rose 11 bps to 5.10% after Andy Burnham announced his run for Parliament.
The pound fell to $1.3395, lowest level since April 13, after Burnham’s announcement.
Burnham will seek nomination for Makerfield after MP Josh Simons stands down.
Nigel Farage pledged to commit everything to the Makerfield contest, calling it a test.
Wes Streeting quit as health secretary, urging Prime Minister Keir Starmer to trigger a contest.