Dutch Pension Overhaul Spurs Euro Rate Volatility, Warns ING

ING expects volatility in euro rates due to the Dutch pension overhaul, with increased volatility in long-term swaps and a potential steepening of the curve. The overhaul, which switches to life-cycle investing, will reduce demand for long-dated swaps, potentially disrupting the market. The Dutch central bank has warned of potential risks to financial stability.