All (Dis) Quiet on the Westminster Front
The News Agents
00:00
Is There a Problem With LDIs?
She says at no point during any of the preparations for the mini-budget had any concerns about LDIs and the risk they posed to bond markets. She talks about brewing in the background. There was an issue relating to pension funds, of which neither of us had been made aware. But she can't blame them because actually her mini- budget had effectively ended her premiership on the Friday before those LDI problems started on the Monday. So she's concertinaing a time frame where it doesn't work. That's the point. The point is that yes, was there a vulnerability in terms of the LDIs and that particular market and Britain’s exposure to it? Yes.
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