3 October 2022
The disaster in Britain’s outlined profit pensions market final week was like a replay of the 2008 banking disaster — simply with totally different acronyms. It was brought on by a blow-up of LDIs — or liability-driven funding methods, an enormous £1.5tn nook of the monetary markets that most individuals had by no means even heard of. Half a dozen classes from 2008 haven’t been learnt.