Bond traders ready gilt sell-off for hung vote By Alan O'Sullivan & Daily Mail reporters4 May 2010, 8:28am Reader comments (5) City vultures are waiting to swoop and plunge the economy into turmoil if voters leave Britain saddled with a hung parliament. Bond markets will open at an unprecedented 1am on Friday - three hours after the polls close - because traders want to be able to sell UK gilts and effectively offload their shares in the Government. In a stark warning about the economic consequences if no one party wins a working majority, the futures market Liffe has been forced to open its doors after coming under pressure from investors. This gives traders and investors the chance to dump gilts - Government bonds - in the event of a hung Parliament or to load up should there be a shock result to their liking, as happened in 1992 when the Conservatives won.
City vultures are waiting to swoop and plunge the economy into turmoil if voters leave Britain saddled with a hung parliament.
Bond markets will open at an unprecedented 1am on Friday - three hours after the polls close - because traders want to be able to sell UK gilts and effectively offload their shares in the Government.
In a stark warning about the economic consequences if no one party wins a working majority, the futures market Liffe has been forced to open its doors after coming under pressure from investors.
This gives traders and investors the chance to dump gilts - Government bonds - in the event of a hung Parliament or to load up should there be a shock result to their liking, as happened in 1992 when the Conservatives won.
The Daily Mail seems to have trouble picking their villains here. Is righteous anger supposed to be directed at the bond traders?
City vultures are waiting to swoop and plunge the economy into turmoil
if voters leave Britain saddled with a hung parliament.
This is ridiculous. The brainless should not be in banking -- Willem Buiter
