As a student of history, UK chancellor Kwasi Kwarteng will be familiar with the law of unintended consequences in politics. He may have less familiarity with Warren Buffett’s aphorism about derivatives, that they are time bombs. Kwarteng’s mini-Budget has delivered an unexpectedly quick and explosive reaction in the gilt market this week partly due to derivatives used by pension funds.
作為一名學歷史的學生，英國財政大臣夸西?克沃滕(Kwasi Kwarteng)對政治中的意外后果規律很熟悉。他可能不太熟悉沃倫?巴菲特(Warren Buffett)關于衍生品的格言——它們是定時炸彈。克沃滕的小型預算本周出人意料地在英國國債市場上帶來了迅速而爆炸性的反應，部分原因在于養老基金使用的衍生品。
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