UK 10-year gilt yields rose to 4.74% on Monday, tracking a broad selloff in global government bonds as political uncertainty flared in both Europe and Asia. In France, political instability deepened after new Prime Minister Lecornu resigned, following President Macron’s decision to appoint a largely unchanged cabinet. In Japan, the surprise election of pro-stimulus lawmaker Sanae Takaichi as the next prime minister fueled expectations of higher fiscal spending, pressuring global bond markets. The ripple effect from Tokyo and Paris pushed European yields higher, particularly on longer maturities, as investors sought to hedge against growing uncertainty. In the US, the ongoing government shutdown and bets on further Fed rate cuts added to global market caution. Meanwhile, the 30-year gilt yield climbed over 5 basis points, mirroring moves in French, German, Italian, and Spanish bonds, though it remains below levels seen a month ago.