In our yield update we explore the background to the current rates environment, the drivers of recent movements and situate these in the context of their key relevance to UK pension schemes.
Q4 2017 saw the first Bank of England rate increase (from 0.25% to 0.5%) in over a decade, yet long end rates continued their downward trend. This seemingly paradoxical outcome can be explained by the evolution of market expectations in response to comments and events, and remind us of the full range of factors that should be considered as trustees approach the hedging decision.
Read the full yield update for more detail.
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