Hedge Funds Ramp Up Bearish Sterling Bets on Andy Burnham Risk

Hedge funds and asset managers piled into bearish sterling option bets last week after Manchester Mayor Andy Burnham secured a pathway to potentially challenge for UK prime minister, raising fears...

By David Finnerty, Vassilis Karamanis · Bloomberg Markets

Hedge funds and asset managers piled into bearish sterling option bets last week after Manchester Mayor Andy Burnham secured a pathway to potentially challenge for UK prime minister, raising fears of political instability and looser fiscal policy.