What's Going on in the UK Market?

The UK markets were already in a fragile place because of the low interest rate environment. Pension funds had to take on some risk because they couldn't cover it with 0% rates. The pension funds bought this sales pitch from BlackRock, which is called an LDI. But as rates started rising and these plans ended up needing more collateral,. It all came to a head when Liz Truss put out this unexpectedly fiscally irresponsible plan.