FTSE 100

Key insight

Rebound stalls 64pts below Oct 3 close at 10,606 — gilt yields near 2007 highs suppress domestic financials; hold above 10,390 session low or thesis flips bearish.

Bouncing +0.4% to 10,526 after last week's -2.2% gilt shock, but 10-year yield at 5.36% and 30-yr at 6% cap upside; oil majors offset bank/housebuilder drag.

Main risk

30-Year Gilt Yield at 6% (1998 high)

Yield resurgence above 6% crushed banks/housebuilders -5% in a single session; any re-acceleration reopens 10,390 low.