The rising stock of a prime minister is not necessarily reflected in the stock market. With hostilities resuming, inflation is unlikely to remain so well-behaved, leaving Burnham's fiscal headroom squeezed. Burnham vs the bond marketBurnham might want to get beyond bond markets, but unless he can unwind the relentlessly vicious circle of higher debt, higher deficits and stagnant growth, he will be doomed to repeat it. It is not unusual: 12 of the 19 people to serve as prime minister since 1945 first entered Downing Street between general elections. Burnham's greatest opponents may not reside in the House of Commons, but in the bond market.