Bloomberg Television · Starmer Rebuffs Calls to Resign, Gilts Open Lower on Risk | The Opening Trade 5/12/2026

1. 1. Keir Starmer faces pressure to resign, causing UK gilt yields to surge.
2. 2. President Trump declared the Iran ceasefire 'on life support,' rejecting peace offer, raising oil prices.
3. 3. South Korea's AI tax revenue dividend proposal caused a $300 billion market drop.
4. 4. The Iran conflict's impact is persistently higher inflation, constraining central banks from aggressive easing.
5. 5. Global trade grows twice the economic rate, fueled by China's innovation and car exports.