Marc Filippino

Plus US inflation?

Woof.

I'm Mark Filippino, and here's the news you need to start your day.

Hi, Ian.

Hey, Mark.

Ian, let's talk about this idea of the bond market communicating through sell-offs, this idea of bond vigilantes.

We've seen this in the past with former Prime Minister Liz Truss in 2022 when the bond market went through a massive sell-off and forced her to resign.

What is their deal?

Now, we should say that UK bonds weren't in a great place even before Starmer's leadership crisis, right?

And investors have a list of priorities of the people they would prefer replace Starmer if he were to go.

Lay out who the candidates are right now and which ones bond investors do prefer.

And why are gilt investors so concerned about Andy Burnham?

As of right now, Ian, Starmer has said that he isn't going anywhere.

What could that mean for the gilt market?

Ian Smith is the FT Senior Markets Correspondent.

Thanks so much, Ian.

Thank you.

Blue Owl has been a prime example of U.S.

private credit worries.

Investors are concerned about how advancements in AI will hit software companies, which private markets are really exposed to.