Birdwatch Note Rating
2024-09-23 21:23:44 UTC - NOT_HELPFUL
Rated by Participant: 49BF3CE85942DA914876A78581E9B56B4A56D04D7045B03C1A8FF6741145C8C2
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