Bond yields remain at or near historic lows around the world, leading to a substantial increase in the value of pension plan liabilities.
What investors should consider
Markets, economy, stocks, growth, global, fixed income, international, asset classes
We cut the chances of recession to 25% after a thaw in the trade war and a year of rate cuts; our forecast is for sub trend growth. Favored sectors include emerging market local currency debt and higher rated short-duration securitized credit.
Reaching for yield, which we define as buying bonds with wider spreads after controlling for sector and rating impacts, is a topic that frequently arises in the life insurance industry.
David Kelly, the Fed, interest rates