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Allison Schrager: If You Think US Pensions Are Safe, Just Wait

The US economy has been built around low interest rates. As rates rise, so will the fallout. You never know where the next crisis will arise but last week it came from a particularly unlikely place: defined-benefit pensions. The UK government bond market (gilts) went wild as rates spiked and pension funds failed to meet their margin calls.

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Posted: October 10, 2022 Monday 06:30 AM