Britain's shadow banking system is raising serious concerns after bond market storm
Analysts are concerned about a knock-on effect to the U.K.'s shadow banking sector in the event of a sudden rise in interest rates. Photo by Richard Baker | In Pictures | Getty Images LONDON — After last week's chaos in British bond markets following the government's Sep. 23 "mini-budget," analysts are sounding the alarm on the country's shadow banking sector. The Bank of England was forced to intervene in the long-dated bond market after a steep sell-off of U.K. government bonds — known as "gilts" — threatened the country's financial stability. related investing news This isn't the market bottom, Morgan Stanley says, naming 3 things that have to happen first Weizhen Tan a day ago Credit Suisse divides Wall Street as JPMorgan calls bank's capital 'healthy’ while others have doubts Hugh Son 3 days ago The panic was focused in particular on pension funds, which hold substantial amounts of gilts, while a sudden rise in interest ra...