To gain an edge, this is what you need to know now.
BOE Prevents Pension Wipe Out
Please click here for a chart S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- In the Morning Capsule we shared with you that the Bank of England (BoE) was forced to intervene by buying gilts due to large margin calls.
- The new information is that pension funds were facing billions of dollars of margin calls and would have been wiped out if BoE had not acted.
- You would think that Prime Minister Liz Truss’s government would have had the forethought of not wiping out the pensions of millions of hard working people as a consequence of their tax cut plan.