Due to a 30 bps decrease in discount rates, funded status fell 1.3% this month from 90.4% to 89.1%
A breakdown of what you need to watch this month as you consider investment implications for your pension plan.
The Realization: A new world. A new normal. A tectonic shift. The transition of global real assets into mainstream portfolio allocation.
Credit markets have enjoyed a strong march upwards, supported by robust technicals and a broadly positive fundamental backdrop. With issuance set to pick up, could now be the time to take some chips off the table?
Dovish central banks have the potential to extend the cycle—and therefore the positive environment for credit. Despite the strong performance year to date, we see opportunities for selective investors.
PG&E (ticker: PCG) filed for bankruptcy - surprisingly the issuer was within the A or better rated pension liability discount rate universe within the prior 12 months.
The Fed halted tightening and propelled equities to their fastest recovery ever following a bear market. This decision was made despite the lowest unemployment rate in 40 years. Does that make sense? Also, a possible deal with China.
Executive Summary. Prolonged period of delevraging could mean low interest rates; subdued growth.
Full 62-page report with analysis of all asset classes.
This bulletin, written by Dr. David Kelly, addresses the Federal Open Market Committee meeting announcement on September 17.