Ramin Nakisa

But now, you know, the yields are higher.

So I think those kind of crashes are less likely.

But I didn't want to take that risk.

I was taking risk off the table.

I knew I couldn't call which way yields would go because there was a lot of uncertainty with Trump as president, new president.

new government in the UK at that time.

So for me, I just went for a money market fund.

And at that point, short-term bonds were giving you more income than long-term bonds, which was weird.

The curve was inverted.

Since then, the curve has now turned back to being normally upward sloping.

And since the war with Iran, what's happened is the whole curve has shifted up

So now it is the case that you'd be better off with a gilt than you would with a money market fund.

So money market funds in roughly the Sonia rate, the sterling overnight index average rate, which is currently roughly bank rate, which was falling.

But now it looks like it may not be falling again due to the inflation shock.

So, you know, you're earning pretty good money with it.

It's very, very, very low risk because they only buy very, very, very safe things.

It's very boring, which is what I want.

So that's what I've got.

No duration risk, very little credit risk, very little income, but a reasonable income.

Okay, you're sitting comfortably.