After Stamer resigns, bond traders are most concerned about who will take over the financial power in the UK.

British bond investors believe that the political future of Chancellor Rachel Reeves is now in jeopardy after Prime Minister Keir Starmer announced his resignation, and they are beginning to assess the potential impact of her potential successors on the market. Reeves has been steadfast in her fiscal rules, which involve covering daily government expenses through tax revenue while gradually reducing the national debt burden. After experiencing years of political turmoil, this stance has helped calm market sentiment. These fiscal rules have also become a core policy label during Starmer's tenure, with investors consistently opposing any signs of relaxing fiscal discipline. As a result, Andy Burnham, who has confirmed his candidacy for Prime Minister, has explicitly ruled out the possibility of modifying the existing fiscal framework. Jordan Rochester, head of fixed income, foreign exchange, and commodities strategy for Mizuho in Europe, the Middle East, and Africa, said, "I am more concerned about who will be appointed Chancellor than Burnham. I have serious doubts about whether Reeves will be able to continue in office."