{"id":61799,"date":"2026-05-11T05:38:29","date_gmt":"2026-05-11T09:38:29","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/starmer-fights-for-survival-as-gilt-yields-rise-intel-surges-on-apple-foundry-deal\/61799\/"},"modified":"2026-05-11T05:38:29","modified_gmt":"2026-05-11T09:38:29","slug":"starmer-fights-for-survival-as-gilt-yields-rise-intel-surges-on-apple-foundry-deal","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/starmer-fights-for-survival-as-gilt-yields-rise-intel-surges-on-apple-foundry-deal\/61799\/","title":{"rendered":"Starmer Fights for Survival as Gilt Yields Rise; Intel Surges on Apple Foundry Deal"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>UK Gilt yields spiked<\/strong> as Prime Minister Keir Starmer delivered a &quot;pivotal&quot; speech to save his premiership, with the <strong>10-year yield hitting 4.96%<\/strong> and the <strong>30-year yield rising to 5.63%<\/strong>.<\/li>\n<li><strong>Intel (<a href=\"\/stock\/INTC\">INTC<\/a>) shares rose 3.8% <a href=\"https:\/\/stockmarketwatch.com\/movers\/premarket\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">premarket<\/a><\/strong>, building on a <strong>14% Friday rally<\/strong> following reports of a preliminary foundry agreement to manufacture chips for Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>).<\/li>\n<li><strong>The UK jobs market is cooling rapidly<\/strong>, with a REC survey showing permanent placements falling at their sharpest rate since January as the <strong>economic fallout from the Iran war<\/strong> threatens 163,000 jobs.<\/li>\n<li><strong>Geopolitical tensions escalated<\/strong> as Iranian Foreign Minister Seyed Abbas Araghchi prepared to visit India for a BRICS summit, while Tehran warned it has not yet &quot;settled the score&quot; with its adversaries.<\/li>\n<li><strong>Ukrainian President Volodymyr Zelensky is reportedly &quot;fed up&quot;<\/strong> with the Trump administration following a heated Oval Office meeting, as the U.S. pushes a controversial 14-point peace plan for the Middle East.<\/li>\n<\/ul>\n<h2>Starmer\u2019s &quot;Battle for the Soul&quot; Amid Market Turmoil<\/h2>\n<p>Prime Minister Keir Starmer launched a high-stakes political fightback on Monday, describing the current political climate as a <strong>&quot;battle for the soul of our nation.&quot;<\/strong> Facing calls for his resignation following &quot;apocalyptic&quot; local election results, Starmer used the speech to pivot toward a <strong>&quot;full-throated&quot; rebuilding of relations with the European Union<\/strong>, including a proposed new arrangement for a youth mobility scheme.<\/p>\n<p>Financial markets reacted sharply to the political instability and the potential for a leadership challenge from the left of the Labour Party. <strong>Benchmark 10-year Gilt yields rose 5 basis points to 4.96%<\/strong>, while <strong>30-year yields climbed to 5.63%<\/strong>, reflecting a growing <em>political risk premium<\/em>. Investors are concerned that any successor to Starmer might abandon current fiscal rules in favor of increased borrowing.<\/p>\n<h2>Intel Extends Rally on Apple Foundry Hopes<\/h2>\n<p>Intel (<a href=\"\/stock\/INTC\">INTC<\/a>) continued its massive momentum in <a href=\"https:\/\/stockmarketwatch.com\/movers\/premarket\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">premarket<\/a> trading, gaining <strong>3.8%<\/strong> after a historic <strong>14% surge<\/strong> during Friday&#39;s session. The rally was ignited by reports that Intel and Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) have reached a preliminary agreement for Intel to manufacture M-series chips, a move that could generate <strong>$10 billion in annual foundry sales by 2030<\/strong>.<\/p>\n<p>Despite the stock hitting a new all-time high of <strong>$124.92<\/strong>, analysts at Bank of America maintained an <em>Underperform<\/em> rating, raising their price target to <strong>$96<\/strong> but warning that the Apple deal is already &quot;fully valued.&quot; The stock has seen a parabolic run in 2026, nearly tripling in value as it recovers from 2025 lows driven by AI-CPU demand and CHIPS Act support.<\/p>\n<h2>Geopolitical Friction and Economic Cooling<\/h2>\n<p>The UK labor market is showing significant signs of strain, with the latest <strong>REC\/KPMG Report on Jobs<\/strong> indicating that permanent staff placements fell to <strong>47.5 in April<\/strong>. Economists at the ITEM Club forecast a net loss of <strong>163,000 UK jobs this year<\/strong>, primarily due to the &quot;energy shock&quot; and supply chain disruptions caused by the ongoing conflict with Iran.<\/p>\n<p>In the Middle East, the situation remains volatile as Iran\u2019s foreign ministry stated it has not yet &quot;settled the score&quot; with those acting against the country. This comes as <strong>Iranian FM Seyed Abbas Araghchi<\/strong> is set to visit New Delhi for a BRICS meeting on May 14-15. Meanwhile, an LPG carrier in the <strong>Strait of Hormuz<\/strong> has reportedly claimed Indian ownership to avoid seizure, highlighting the <em>precarious nature of global energy transit<\/em>.<\/p>\n<h2>Zelensky and Trump Administration Clash<\/h2>\n<p>Relations between Kyiv and Washington have reached a new low, with the <em>New York Times<\/em> reporting that <strong>President Zelensky has &quot;taken the gloves off&quot;<\/strong> with the Trump administration. The friction follows an &quot;explosive&quot; Oval Office meeting where Zelensky was reportedly berated by U.S. officials over his stance on peace negotiations.<\/p>\n<p>The Trump administration is currently pushing a <strong>14-point peace proposal<\/strong> for Iran, which includes a 12-year halt to uranium enrichment in exchange for the gradual lifting of sanctions. However, Tehran has already branded the response to the plan as &quot;unacceptable,&quot; and <strong>global oil prices jumped 4%<\/strong> as the ceasefire remains under intense pressure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways UK Gilt yields spiked as Prime Minister Keir Starmer delivered a &quot;pivotal&quot; speech to save his premiership, with 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