Gilt Trip: Did UK government bonds almost blow up the financial system?
Many Happy Returns
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Isn't Pension a Pension?
Benefit pensions have a problem because of the way they're reported and run. Previously, what you could do is project this cash flow stream into the future. You can actually quite accurately predict what your liabilities will be. But returns on guilt were very low in an era of ultra low interest rates. And that got baked into guilt coupons and yields.
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