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Roiling British markets push pension funds into real-time firefighting
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Pension funds, used to thinking in decades, have been thrown into real-time firefighting mode by the crisis roiling British markets.
Many UK pensions are rushing to raise cash to satisfy collateral calls triggered by rapid moves in usually staid government bonds. Adding to the urgency: the Bank of England’s plans to end its emergency bond-buying on 14 October, after which many fear volatility could surge again.
Andrew...
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