Pound and UK bonds holds steady as prime minister Keir Starmer confirms resignation – business live

Economy The Guardian By Kalyeena Makortoff 22 Jun 2026 09:20 1 min read

Sterling and gilts have avoided major swings amid Starmer’s resignation and progress in US-Iran peace talks Markets seem to be appeased by news of a (relatively) standard leadership contest, which will shake out any policy positions from prospective prime minister before they take post. That could help reduce any jitters from some corners of the market over Andy Burnham’s potential leadership. according to Richard Carter, head of fixed interest research at Quilter Cheviot. Markets are wary of Bu

Sterling and gilts have avoided major swings amid Starmer’s resignation and progress in US-Iran peace talks

Markets seem to be appeased by news of a (relatively) standard leadership contest, which will shake out any policy positions from prospective prime minister before they take post.

That could help reduce any jitters from some corners of the market over Andy Burnham’s potential leadership. according to Richard Carter, head of fixed interest research at Quilter Cheviot.

Markets are wary of Burnham’s previous policy positions so they would prefer to see ideas for governing fleshed out via a leadership contest, keeping surprises to a minimum.

There are difficult decisions around welfare and defence spending lurking, with each likely to have an impact on gilts and wider UK markets.

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