pension-funds
FinanceUK Bond Turmoil Leaves Smaller Pension Schemes With Longer-Term Costs
Top StoriesBank of England: Risk of Another Fire-Sale in Gilts Significantly Reduced
Top StoriesBritain’s Bond Market Turmoil
Top StoriesBritain’s Bond Market Turmoil
UK Borrowing Costs Hit 20-year High as BoE Sticks by Bond Deadline
Date: October 12, 2022
By Andy Bruce, William Schomberg and David Milliken LONDON (Reuters) -British government borrowing costs surged again on Wednesday after Bank of England Governor Andrew Bailey told pension funds they had three days to fix liquidity problems before the bank ends emergency bond-buying that has provided support. Twenty and 30-year gilt yields both hit their highest...
Long-Dated UK Bond Prices Slide to New 20-year Low
Date: October 12, 2022
By Andy Bruce LONDON (Reuters) -Long-dated British government bonds sold off heavily on Wednesday to reach their lowest ebb in 20 years, after Bank of England Governor Andrew Bailey told pension funds they had just three days to fix liquidity problems. Twenty- and 30-year gilt yields spiked to their highest level since 2002, both exceeding...
British Pensions Step up Multi-Billion-Pound Asset Fire Sale as Need for Cash Soars
Date: October 11, 2022
By Tommy Wilkes and Carolyn Cohn LONDON (Reuters) – UK pension schemes are racing to raise hundreds of billions of pounds to shore up derivatives positions before the Bank of England calls time on support aimed at keeping them afloat. The Bank of England plans to stop buying bonds on Oct. 14, leaving pension schemes...
Fire-Fighting Bank of England Forced to Buy Inflation-Linked Bonds
Date: October 11, 2022
By Andy Bruce LONDON (Reuters) -The Bank of England sought again to stem a sharp sell-off in Britain’s 2.1 trillion pound ($2.3 trillion) government bond markets on Tuesday, expanding its emergency buying to inflation-linked debt. Citing a “material risk” to financial stability after pension firms were hit by the turmoil, the BoE split its programme...
Explainer-Why Is Bank of England Acting Again? What Next in the UK Crisis?
Date: October 11, 2022
LONDON (Reuters) – The Bank of England again sought to stem a sharp sell-off in Britain’s 2.1 trillion pound ($2.3 trillion) government bond markets on Tuesday, expanding its emergency buying to inflation-linked debt. The slump in government bond prices – and the subsequent surge in yields – has threatened to wreak havoc in the country’s...
Cash Crunch for British Funds Puts Regulators Under Pensions Lens
Date: October 6, 2022
By Huw Jones, Carolyn Cohn and Tommy Wilkes LONDON (Reuters) – A scramble for cash by Britain’s pension funds after last week’s bond market crash has raised questions about oversight of a 1.6 trillion pound ($1.8 trillion) business that has grown rapidly in recent years. Pension funds had to post emergency collateral in liability-driven investments...