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Gilt market fragmentation and how to respond

Gilt market fragmentation and how to respond

14 Nov 2025

The gilt market is currently exhibiting unusual characteristics, influenced by the specific set of circumstances and events that have built up over a number of years both in the UK and more widely in the global economy.

As a result yield curve risk has had a far more prominent impact on performance of Liability Driven Investment (LDI) strategies than was previously the case.

We explore gilt market dynamics, the implications for defined benefit pension schemes, and the actions you can take in our Investment Briefing.

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