Citi: If the local elections in the UK cause setbacks for the Labour Party, this may further push up UK bond yields

Golden Ten Data reported on May 7th that Citigroup analyst Callum McLaren-Stewart stated in a report that if the results of the UK local elections are unfavorable for the ruling Labour Party and possibly trigger a leadership challenge against the Prime Minister, the yield on the UK 10-year government bonds could rise to 5.0%-5.25%. Polls indicate that the Labour Party may lose a large number of seats. "Such a result is likely to be seen as a negative evaluation of the current government's performance and could prompt a certain degree of policy shift." On Tuesday, the yield on the UK 10-year government bonds once reached 5.102%, hitting a six-week high.