Rokos profits from interest rate bets in UK market turmoil
Billionaire trader Chris Rokos has been among the major hedge fund managers who have profited during the crisis gripping UK financial markets, according to people familiar with his positioning.
Rokos, whose Rokos Capital Management is one of the world’s biggest macro hedge funds with $14.5bn in assets, has been running a bet that UK borrowing costs will have to rise, the people said.
The bet, which has not previously been reported, has paid off, both as surging inflation has forced up borrowing costs over the summer and then following a violent market reaction to Chancellor Kwasi Kwarteng’s “mini” Budget last month, whose unfunded tax cuts sent gilt yields surging.
This story originally appeared on: Financial Times - Author:Laurence Fletcher
