Sustained volatility over short term

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We are living in interesting times for the UK fixed interest markets. In the middle of September the...

We are living in interesting times for the UK fixed interest markets. In the middle of September the Government released their long awaited review of the Minimum Funding Requirement inviting the general public to submit suggestions and engage in debate surrounding the proposals for reforming this disliked solvency measure. Ironically the suggestions made in the report accentuated some of the distortions that have resulted from its current form. The switch to a bond related yield to discount immature liabilities could encourage pension funds, whose funded position with regard to MFR thresho...

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