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.
作为一名学历史的学生，英国财政大臣夸西•克沃滕(Kwasi Kwarteng)对政治中的意外后果规律很熟悉。他可能不太熟悉沃伦•巴菲特(Warren Buffett)关于衍生品的格言——它们是定时炸弹。克沃滕的小型预算本周出人意料地在英国国债市场上带来了迅速而爆炸性的反应，部分原因在于养老基金使用的衍生品。
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