Birdwatch Note Rating
2024-09-24 13:52:08 UTC - HELPFUL
Rated by Participant: 0C63F5777FF3B7C9939BA5CADC0201D1706052767FDDA5B2A184E485AFCB4A49
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