4 ms·
Its presumably not that market rates increased that fucked them up, it's that they couldn't hold to maturity due to short term redemptions?
by nly 4y ago
Its presumably not that market rates increased that fucked them up, it's that they couldn't hold to maturity due to short term redemptions?
- adam_arthur 4y agoYes, despite these being "safe" they effectively took on duration risk, and their bonds were "callable" by their customers. Not safe at all despite credit-risk being low