Lending, borrowing and investing in a negative rate world
Equity investors spend a lot time looking for where earnings growth will be strong; what doesn't get as much attention is what happens after they're generated.
A pause in trade escalation is welcomed as it should allow the global economy to stabilize; however, investors shouldn’t assume trade tensions have gone away.
Inventories tend to have a cycle of their own, growing and contracting several times over the course of an expansion.
The economic backdrop in 2019 has been characterized by weakness in manufacturing being offset by the resilience of services and health of the consumer.
Due to hedge portfolios and growth assets, funded status rose 1% this month from 87.5% to 88.5%.
Alternatives for uncorelated income
How public pension funds can enhanve returns while limiting investment costs
The current earnings season has been mixed; lower energy prices and a stronger dollar are headwinds, but health care sector M&A is providing an offset.
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.