Tiabitities actually the estimate of their liabilities falls actually the estimate of their liabilities falls and actually the estimate of their liabilities falls and when - actually the estimate of theirl liabilities falls and when bond prices liabilities falls and when bond prices go liabilities falls and when bond prices go up. liabilities falls and when bond prices go up, their liabilities falls and when bond prices go up, their liabilities i liabilities falls and when bond i prices go up, their liabilities go up. prices go up, their liabilities go up so prices go up, their liabilities go un. ., prices go up, their liabilities go up. so on the ldis, the liability driven investments, up. so on the ldis, the liability driven investments, are - up. so on the ldis, the liability driven investments, are they . up. so on the ldis, the liability - driven investments, are they forced to sail and do the deal on the other side of the equation in other words if that call is made in is that while they are at risk? br; if that call is made in is that while they are at risk? by matching assets and liabilities, while they are at risk? by matching assets and liabilities, a while they are at risk? by matching assets and liabilities, a lot - while they are at risk? by matching assets and liabilities, a lot of - assets and liabilities, a lot of pension assets and liabilities, a lot of pension funds assets and liabilities, a lot of pension funds use assets and liabilities, a lot of| pension funds use derivatives assets and liabilities, a lot of. pension funds use derivatives so financial pension funds use derivatives so financial instruments, pension funds use derivatives so financial instruments, and - pension funds use derivatives so financial instruments, and in - pension funds use derivatives so financial instruments, and in a l financial instruments, and in a white financial instruments, and in a white which financial instruments, and in a white which looks financial instruments, and in a white which looks actually- white which looks actually reasonably white which looks actually reasonably sensible - white which looks actually reasonably sensible apart | white which looks actually- reasonably sensible apart from if you have reasonably sensible apart from if you have the reasonably sensible apart from if you have the kind reasonably sensible apart from if you have the kind of reasonably sensible apart from if you have the kind of moves - reasonably sensible apart from if you have the kind of moves thatl reasonably sensible apart from if. you have the kind of moves that we have had you have the kind of moves that we have had over the you have the kind of moves that we have had over the past you have the kind of moves that we have had over the past few- you have the kind of moves that we have had over the past few days, i have had over the past few days, which have had over the past few days, which potentially have had over the past few days, which potentially trigger- have had over the past few days, which potentially trigger what - have had over the past few days, i which potentially trigger what might be called which potentially trigger what might be called margin which potentially trigger what might be called margin calls. which potentially trigger what might be called margin calls. so which potentially trigger what might be called margin calls. so call- which potentially trigger what might be called margin calls. so call for. be called margin calls. so call for extra be called margin calls. so call for extra cash be called margin calls. so call for extra cash and be called margin calls. so call for extra cash and contributions - be called margin calls. so call for extra cash and contributions of. extra cash and contributions of astonishingly extra cash and contributions of astonishingly large extra cash and contributions of astonishingly large amounts i extra cash and contributions of astonishingly large amounts of extra cash and contributions of - astonishingly large amounts of money that pension astonishingly large amounts of money that pension funds astonishingly large amounts of money that pension funds might astonishingly large amounts of money that pension funds might not - astonishingly large amounts of money that pension funds might not have - astonishingly large amounts of money that pension funds might not have at. that pension funds might not have at their fingertips, that pension funds might not have at theirfingertips, and that pension funds might not have at theirfingertips, and if that pension funds might not have at their fingertips, and if you that pension funds might not have at their fingertips, and if you don t - their fingertips, and if you don t make their fingertips, and if you don t make good their fingertips, and if you don t make good that their fingertips, and if you don t make good that sort their fingertips, and if you don t make good that sort of - their fingertips, and if you don t make good that sort of extra . their fingertips, and if you don ti make good that sort of extra call for money, make good that sort of extra call for money, then make good that sort of extra call for money, then slit make good that sort of extra call for money, then slit their- make good that sort of extra call. for money, then slit their positions are tiguidated for money, then slit their positions are liquidated and for money, then slit their positions are liquidated and dumped - for money, then slit their positions are liquidated and dumped into - for money, then slit their positionsj are liquidated and dumped into the market. are liquidated and dumped into the market. setting are liquidated and dumped into the market, selling lots are liquidated and dumped into the market, selling lots and are liquidated and dumped into the market, selling lots and lots - are liquidated and dumped into the market, selling lots and lots of - market, selling lots and lots of bonds. market, selling lots and lots of bonds. which market, selling lots and lots of bonds, which in market, selling lots and lots of bonds, which in turn market, selling lots and lots of bonds, which in turn works - market, selling lots and lots of bonds, which in turn works as i market, selling lots and lots of| bonds, which in turn works as a situation bonds, which in turn works as a situation for bonds, which in turn works as a situation for other bonds, which in turn works as a situation for other pension - bonds, which in turn works as ai situation for other pension funds and drawing situation for other pension funds and drawing them situation for other pension funds
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