Bank of America: UK fiscal concerns may resurface before local elections in May.

Bank of America strategists said in a report that as the UK enters local elections in May, concerns about the country's public finances and the government's ability to maintain fiscal prudence may resurface. Prime Minister Keir Starmer is under pressure to resign after news emerged that former US ambassador Peter Mandelson failed a security check but still assumed the position. The UK faces political risks. Bond investors are worried that potential changes in leadership in the UK could open the door to looser fiscal rules and higher public borrowing.