Mystery Investors Amass Billions in Gilts as Brexit Is Triggered
- Record 3.8 billion pounds of 10-year gilts delivered
- Limited availability may have caused bond-price squeeze
Brexit Triggered: What Happens Now?
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Some mystery investors are betting big on gilts as the U.K. prepares to leave the European Union.
The investors have taken delivery of a record 38,271 futures contracts that expired on Wednesday, the day Prime Minister Theresa May triggered Article 50. The number of contracts, which represents 3.8 billion pounds ($4.7 billion) worth of 10-year bonds, is the highest in ICE data going back to 2007 and compares with an average of about 8,000 a month.