FTSE 100

Key insight

10,750 round-number support tested on first post-Bank-Holiday session; UK gilts at 18-year yield highs signal systemic pressure — break below 10,700 (Aug swing low) opens a move to 10,550.

Drops to 10,753 — off the 10,824 Aug-28 close — as US-Iran strikes lift oil above $91 and UK gilt yields hit 2008-crisis highs, compressing equity multiples across the board.

Main risk

UK Gilt Yields at 2008 Highs

Gilt yields at 18-year peak crush rate-sensitive financials and real estate; 10,700 Aug swing low is the line-in-the-sand for bulls.