A quarter dominated by substantial government bond yield falls

UK GDP appears to have picked up based on estimated figures for the beginning of Q3 and global equity markets rallied over the quarter buoyed by stimulus from the ECB and the Federal Reserve in September. However, government bond yields fell substantially in July and the first half of August around concerns about the global economy, resulting, overall, in a challenging quarter for pension schemes.

This paper also includes two special features looking at the discontinuation of LIBOR and understanding the full cost of your portfolio.

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