Mark Stevenson's Gilt Trade

[SlowlyButSurely]

I have just been reading over some information on the case of Mark Stevenson, the Credit Suisse Gilt trader who tried to profit off of selling bonds to the BoE at an inflated price.

Sure he was morally wrong, but doesn't this happen every single day in the markets? People trying to make money out of their holdings by taking advantage of each other? Did he get fined here because he tried to play the wrong opposition and the BoE simply didn't like to be the one getting stuffed so threw their toys out the pram.

Whether right or wrong I admire his skill and boldness. Notes below:

http://www.fca.org.uk/news/press-re...er-660k-for-manipulating-gilt-price-during-qe

http://www.theguardian.com/business...ed-rigging-mark-stevenson-quantitative-easing

 

[Martinghoul]

It's a matter of degree... He manipulated the mkt in a particularly obvious and blatant manner. He got caught and paid the price. Sure, it's a little arbitrary, but such is c'est la vie, as the French would say.