bullish
Danger UXB
SUMMARY
- Danger UXB was a British TV series about a company of soldiers dealing with UXBs, or Unexploded Bombs, left in London after the Blitz.
- Made in the late 1970s it will doubtless be familiar to BoE governor Andrew Bailey and certainly the former Deputy Governor Andy Haldane, whose presentation given back in 2014, highlighted the problems of regulations like FRS 17 moving risk back from those most able to take it (the financial system) to those those least able to – pension fund sponsors and pensioners.
- In particular he discussed how asset allocation was being driven further and further out of equities and into low yielding bonds and how the tendency would be to buy more bonds as rates fell, creating an overshoot.
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