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.
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.
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.
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.