If I have a CSA that contains say GBP Gilts and GBP cash, how do i hedge the risk that the gilt funding cost goes up.
Lets say my portfolio is > 10 years.
Let's assume I have a discount curve that is based on supply and demand of these types of CSAs.
I dont believe there is a long term repo market, so i cant construct my curve based on any observables.
Any other suggestions/ideas?