The seeds of the next crisis are sown as new government rules force pension funds to buy the...
The seeds of the next crisis are sown as new government rules force pension funds to buy the long-term sovereign obligations of the U.S., U.K., and EU at what - in the future - will be looked back upon as one of the worst times ever to do so. "Financial repression works well," says Jerome Booth of fund manager Ashmore, "but it is distortionary ... Anyone who invests money in sovereign bonds has got some explaining to do."
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