Rokos Capital Management, the macro hedge fund major founded by Chris Rokos, stands to make a profit of more than $1bn after a bet on US interest rates paid off following a sell-off in US bonds, according to a report by The Telegraph.

The sell-off was prompted by the Federal Reserve's decision to hold interest rates at 5.25% to 5.5% last month after inflation proved more stubborn than expected measuring 3.1% in January, dampening market hopes of rate cuts.

According to figures reported by the Financial Times, Rokos Capital Management, which manages $16bn in AUM, has now gained 8.8% year to date.