https://external-preview.redd.it/UzclXRPY962lRNsxNA3NGGq7gZtHLKKMgCfSFTzYkiA.jpg?auto=webp&s=afd44d8314c8b33280494cbc47c276ddbe0be3fc
Jaw-dropping quotes on just how close the UK came to catastrophe today 🤯
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* Senior banker describing the leveraged unwind in Gilts (UK government bonds) as coming close to triggering a “Lehman moment”
https://preview.redd.it/z2ilu3rwwnq91.jpg?width=1080&format=pjpg&auto=webp&s=c4224a44bdb91db10d1d886ff943ae190249e125
* Asset manager accusing the Bank of England of ignoring calls to intervene sooner
https://preview.redd.it/qnfb4mgywnq91.jpg?width=1080&format=pjpg&auto=webp&s=e3333515a56147809af05847f69633ea1cdc55d6
Via: [https://twitter.com/BondHack/status/1575208869889835008](https://twitter.com/BondHack/status/1575208869889835008)
More coverage at [Financial Times](https://www.ft.com/content/756e81d1-b2a6-4580-9054-206386353c4e) (non-paywall: [https://archive.ph/8hV9E](https://archive.ph/8hV9E))
Jaw-dropping quotes on just how close we came to catastrophe today.
Senior banker describing the leveraged unwind in Gilts as coming close to triggering a "Lehman moment". Asset manager accusing the Bank of England of ignoring calls to intervene sooner 🤯https://t.co/ZOGEzhHjVY pic.twitter.com/4VhnvbFlvL
— Robert Smith (@BondHack) September 28, 2022
View Reddit by polloponzi – View Source
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Can someone explain ‘the leveraged unwind in gilts’ and the role pension funds play in this
Does anybody really believe that it’s all fixed now?
So what your saying is we are fighting a market crash with inflation and fighting inflation with rates and oh wait there isn’t a good end here is there lol we so fucked
“risk of solvency” in reality was “technical bankrupt”.
The queen dies and suddenly everything falls to shit
Reading this book about 5 market crashes and this sounds very similar to UK gold panic and US policy servicing the cool down of speculation.
It’s not today! It well be next week!!! 
“Fuck you WSB! I’ll show you real loss porn” – Kwasi Kwarteng.
This is just the beginning, not even an entree yet
So the BOE starts QE/money printer again.
Are they gonna QE Infinity?
Nope…
So what happens when they stop QE?
What happens when they actually start QT to fight the UK’s raging inflation?
So they were doing QT. Now they pump money. Wow. Now that’s a pivot.
UK pension funds went all in on BBBY.
so lemme get this straight, out of all the potentially risky avenues in the entire UK economy it was the ~~real estate sector~~ ~~tech sector~~ ~~airline stocks~~ ~~bio-medical research~~…. retirees pensions?
Sure, sounds like everything’s on the up and up from our trusted overlords managing the markets as always. Sure… *jackoff motion*
Let’s print more money cuz printing money put us in this situation in the first place. Anyway..
Can’t we just say that the UK almost got Lehmaned?
The global economy is about as stable as a house of cards in Miami right now.
And instead they juiced the market and it will be worse soon. Learnt.nothing
It is retails fault, right?
**PRIVATISE PROFITS. SOCIALISE LOSSES**
Scumbags shouldn’t be interfering.
Don’t bail out massive financial institutions.
Bail out the people who put their assets into them.
A bank goes up, that’s ON THEM.
Let’s hope they do. The UK government has always had a wierd relationship with business. That said the current government is too dogmatic to a believe in a client state that delivers no return on investment to the anyone but donors.
I’m just happy that the richest people in England will get to keep their £45 billion tax cut and nobody who actually matters to the decision-makers will end up getting hurt by this.
Time to buy VGK Puts?
This totally explains the bullish movement today.