The Financial Conduct Authority (FCA) is looking into claims traders intentionally pushed up the price of government bonds before attempting to sell them to the Bank of England (BoE) in 2011.
Paul Fisher, BoE executive director for markets, said the regulator was examining suspicious movements in the price of a 2017 bond auction, where the Bank was looking to buy billions of pounds of gilts for its quantitative easing (QE) programme. The Bank declined to purchase the bonds from one lender after it became suspicious of the sharp rise in their price. The accusation emerged during a parliamentary committee hearing on Tuesday, though Fisher said authorities did not know for sure whether there was an attempt to rig the gilt auction. "It was very obvious to us what was happen...
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