London Traders Are Stuck With an Ultra-Long Bond Bet Gone Bad

It was supposed to be a relatively quick and lucrative bet. Buy a long-dated UK government bond at an historic discount to par, wait for the price to pop and...

By Georgia Hall, Greg Ritchie · Bloomberg Markets

It was supposed to be a relatively quick and lucrative bet. Buy a long-dated UK government bond at an historic discount to par, wait for the price to pop and then reap a tax-free windfall.