US public pension deficits driving muni yields

It is common knowledge that US public schemes are in a precarious situation, but the scale of their funding deficit is less so because of the favourable accounting rules that allow liabilities to be discounted using the growth of a scheme’s asset portfolio. New research has shone a market-consistent light on jusat how bad the situation is – and this is spooking muni investors. Laurie Carver reports

arnold-swarznegger-pa

Nearing the end of his seven years as governor of the Golden State, Arnold Schwarzenegger proved he was no "economic girly man" by raising some $14 billion (£8.8 billion) for his troubled state's budget during a sharp downturn in the market for US public debt.

The vast quantities of US public debt issuance in the years since the financial crisis began in 2008 – $160 billion in the past 19 months alone – have been issued to the same relatively small set of investors, mainly funds trading on

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The future of life insurance

As the world constantly evolves and changes, so too does the life insurance industry, which is preparing for a multitude of challenges, particularly in three areas: interest rates, regulatory mandates and technology (software, underwriting tools and…

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