Big news: hearing from several sources in the UK that some pension funds are quickly becoming insolvent due to huge margin calls they can’t meet.
The massive move in 30y UK swaps and bonds coupled with risk assets tanking behind the problem. That “explains” the BoE action.
https://mobile.twitter.com/MacroAlf/sta ... 4986036225
Bank of England intervenes in bond market after massive sell-off
https://www.cnbc.com/2022/09/28/bank-of ... ogram.html