Behind The Markets Podcast: Andrew Okrongly & Ben Clissold
Behind the Markets Podcast
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Is There a Difference Between US and UK Bond Markets?
There's not, I don't think, nearly the same level of risk of a protracted significant rise in bond yields. The prevalence of synthetic derivative-based liability hedging on behalf of US pension plans is much less prevalent than it is in the UK. Most US plans can do LDI just by going out and buying some of the large liquid universe of zero coupon treasuries and US corporate investment grade corporate bonds.
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