Birdwatch Note Rating
2024-09-23 10:14:56 UTC - HELPFUL
Rated by Participant: 687722D8024482D4D96B39C06C5DF484E69D3CB96E64F6FFE4AA3DA5D41B609B
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