Ryan Cohen, the GameStop chief who helped spark the meme‑stock frenzy, has resurfaced with a bid to acquire eBay, a company valued at roughly $49 billion. The proposal has drawn mixed reactions and underscores an unusually upbeat mood in U.S. equities, where stocks chase fresh records while bond markets stay wary.

Across the Atlantic, UK long‑term yields have surged to levels not seen since 1998. The 30‑year gilt now trades near 5.7%, and the 10‑year jumped 15 basis points in a single session, reflecting persistent inflation worries and a string of rate hikes worldwide, including a recent 25‑basis‑point increase by the Reserve Bank of Australia.

Thursday’s local elections add a political layer to the financial stress. Polls suggest Labour could lose ground in traditional strongholds, raising fears of a leftward shift and higher sovereign borrowing. With gilt yields already elevated, any surprise could tighten financing conditions for the UK government, leaving investors with little margin for error.