Birdwatch Note Rating
2024-09-23 21:44:49 UTC - HELPFUL
Rated by Participant: 0A8EF4C5E1803DBB5E4BB9EF5C40B906C53414357D98E3DDDDE5714F6D75B3AA
Participant Details
Original Note:
• Gilt prices did not spike, they fell • BoE gilt sales were as expected by market • BoE is not LDI/pensions regulator (Pensions Regulator, FCA were), govt sets framework • While BoE research states 2/3s of drop in gilt prices caused by LDI, it says mini-budget was trigger https://www.bankofengland.co.uk/markets/market-intelligence/survey-results/market-participants-survey-results-september-2022 https://www.bankofengland.co.uk/-/media/boe/files/working-paper/2024/lash-risk-and-interest-rates.pdf
All Note Details