The UK's leftfield pension fund shock means hope of a yearend rebound in world markets is going to be plagued by fears of distressed selling in often dimly lit corners. There were two main elements to the blowup in so-called Liability Driven Investment (LDI) strategies for British pension funds over the end of the third quarter. First was the scale of the spike in long-term British borrowing rates over just a week or two around the new government's controversial tax slashing plan. The second was how it revealed the level of leverage and risk that had built up in supposedly conservative and highly-regulated retirement funds.

https://www.hellenicshippingnews.com/pension-fund-jam-may-jolt-private-credit-boom-mike-dolan/

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