May 15, 2026

A surge in energy prices triggered by the Iran war is prompting investors to revisit a familiar trade: inflation-linked bonds.

Gilts tumbled after Manchester Mayor Andy Burnham secured a pathway to potentially challenge Keir Starmer for the UK prime minister’s job, threatening a fresh bout of political instability that investors fear could result in more expansive fiscal policy.

South Africa said it’s evacuating researchers at a sub-Antarctic Marion Island base after the Iran war delayed fuel deliveries needed for the operations.

The United Arab Emirates will double its capacity to export crude oil bypassing the Strait of Hormuz by 2027, as it seeks to reduce reliance on the shipping chokepoint whose closure in the Iran war has upended global markets.

Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we’ll tell you what matters for investors in Europe, giving you insight before trading begins.

Donald Trump said he made “fantastic trade deals” with Xi Jinping as the leaders wrapped up their summit in Beijing, though few concrete agreements emerged.

Trump told Fox News that Xi offered to help on Iran, which Beijing has not confirmed. China has urged the reopening of the Strait of Hormuz.

And in the UK, another potential challenge to UK Prime Minister Keir Starmer’s leadership from one of the nation’s most popular Labour Party politicians, Andy Burnham, was enough to send the pound tumbling.

Today’s guest: Hetal Mehta, St James’s Place, Chief Economist. (Source: Bloomberg)

GoTyme Bank Ltd. has invited all its employees to share ownership in the digital lender controlled by South African billionaire Patrice Motsepe as it seeks to scale up operations.