Pensions watchdogs responsible for regulating a £1.5 trillion area of the sector which “came close to imploding” are holding daily talks with fund managers “to stave off fresh crisis”, the Financial Times Weekend reports. The paper says pension funds are concerned a UK government bond sell-off, which caused the chaos this week, will resume when the Bank of England’s £65bn rescue measures end.
Sources suggest the UK has moved past its technical recession with first-quarter growth surpassing that of the US and Eurozone, a positive development for Rishi Sunak.