You didn’t hear about it on any nightly broadcasts. It wasn’t covered in newspaper headlines. Even on dedicated financial websites, there was barely a passing mention. But last week, the Financial Times Stock Exchange (FTSE) 100 Index quietly ventured into record-high territory.

The FTSE tracks the performance of the 100 largest public companies in the United Kingdom. It represents 80% of the market capitalization trading on the London Stock Exchange. Well-known constituents include banking group Barclay’s (NYSE: BCS), liquor distributor Diageo (NYSE: DEO), household products maker Unilever (NYSE: UL), and upscale retailer Burberry (OTC: BURBY).

This benchmark index of blue-chip British stocks stood at just 5,900 a year ago, but has now risen a full 23.8% to over 7,300. Needless to say, many individual names have outpaced the group. Morrison’s Supermarkets gained 50.8% in 2016, while mining group BHP Billiton soared 67.7%.

By any measure, a 24% surge in a major stock index can be considered a fantastic year. But here’s the thing. Even a 1% gain could have been considered something of a victory. This powerful rally wasn’t supposed to happen at all.

Remember “Brexit,” the stunning referendum vote for the United Kingdom to break away from the European Union and promote its own sovereign interests? All the talking heads said it would lead to a calamity of epic proportions. Massive unemployment, skyrocketing government bond yields, plunging share prices, boarded-up real estate… general economic misery.

TV interviews and financial articles widely painted a gloomy scenario using harsh words like “meltdown,” “collapse,” and “Armageddon.” But after the voters spoke, the sky never fell. In fact, most underlying U.K. economic reports showed surprising strength in the weeks and months that followed.

The initial knee-jerk selloff immediately after the Brexit vote now seems like a distant memory. Investors that may have been leery of any economic backlash are now casting their doubts aside and returning in droves. Far from swooning, the FTSE has actually been enjoying an unprecedented winning streak.

#-ad_banner-#Between December 22 and January 11, British stocks gained ground for 12 consecutive trading sessions — the longest stretch on record. If you don’t have any exposure to the U.K. markets, consider this: Average dividend yields across the pond are still 88% higher than they are here.

Let’s be clear: it’s too soon to render a final verdict on the impact of Britain’s decision to un-tether from its European neighbors. It takes more than a mile for a fully-loaded ocean liner to come to a complete stop and change course. In much the same way, huge economies don’t exactly turn around on a dime.

But more than six months have now passed since the June 23 referendum. And while British Prime Minister Theresa May is still instructing parliament to negotiate the finer points of the departure, it’s becoming increasingly clear that the worst fears were unfounded.

Most of the incoming data show a “stable if not slowly expanding” economy. For example, industrial output rose 2.1% last month, aided by the reopening of a major North Sea oil field. Consumers are also showing confidence, with many British retailers such as Sainsbury’s reporting record holiday sales. According to Visa, UK consumer spending for the final quarter of 2016 grew 2.8%, on average, which is twice as high as the average rates each of the prior two quarters.

Perhaps more important, though, is the downturn in the value of the pound sterling since the Brexit vote. The currency is currently worth $1.23 — versus $1.50 before the vote. In the currency markets, that’s a dramatic move.

This sharp devaluation is the biggest motivating factor driving demand for U.K. stocks. Not only does it make British exports more competitive in foreign markets, but favorable currency translation is also boosting revenues and profits generated overseas.

On the whole, the risks of economic shock have been greatly diminished. While some valuations are stretched, bargains remain in the FTSE.

Generate Income From An Upturn In U.K. Markets
I’ve found the perfect stock to help my premium High-Yield Investing readers benefit from UK’s growth. It’s a stock that’s doled out more than 5% in income to investors last year. And it will pay out far more in 2017 thanks to a generous special distribution following a recent divestiture. Best of all, you don’t have to take on heightened risk to get this higher yield. The stock has a beta of just 0.38, meaning the shares are stable and experience far milder price swings than the broader market.

That’s called the best of both worlds.

This pick is a utilities operator that has a presence in both the United Kingdom and the United States. All in all, its infrastructure is valued at $52 billion. Nearly all of these assets are regulated in nature, meaning the company is allowed to reap a fair return on investment that is stable, recurring and predictable.

Right now, the company offers a hefty yield of 4.5%. But thanks to the asset sale I mentioned earlier, management intends to return 4 billion pounds ($4.9 billion dollars) in proceeds to shareholders, mostly through a special dividend. The terms break down to a payout of nearly two years of regular dividends all at once.

In uncertain times, it’s reassuring to know that homes and businesses will always need electricity and gas — and the company’s infrastructure plays a critical role in connecting sources with end-users.

Unfortunately, I can’t give away the name of this pick today. It’s only available to my High-Yield Investing subscribers. But you should be on the lookout for stocks like this in the resurgent U.K. market. It just goes to show how valuable it can be to look beyond our borders to find solid income stocks.

P.S. High-Yield Investing is dedicated to bringing income investors the highest-paying and most stable stocks, bonds and funds on the market. Each issue is filled with a bevy of income choices yielding 8%… 10%… even 12% or more! If you’re interested in getting access to my full portfolio, along with names and ticker symbols — including my in-depth analysis — I invite you to go here.