re: Fed Pivot Coming? See this tweet from Charlie Gasparino

quote:

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The problem in Britain was the drop in Bond values. The plunge was so sharp, the pension funds began getting margin calls, and those pension funds ( which have much of their assets tied up in ILLIQUID investments like real estate and private equity) were forced to sell off their liquid assets (equities) at a loss .

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I don’t know what all pensions own in the UK but I know the ones in the US own mostly Alts, Private Equity/RE, Treasuries as well.