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May 1, 2023Liked by Brian Romanchuk

Is there a point at which the other side of the hedges starts to squeal? After all the now low paying securities aren't going anywhere and there is over a decade of them in the system. Somebody has to be left holding the baby.

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May 1, 2023·edited May 1, 2023Author

The other side are almost certainly entities with actuarial liabilities. So long as they avoid liquidity issues - unlike the British pension funds - they are fine.

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