@michaelxpettis Yup. I quoted it not as an outstanding piece of research but as an instance of self-serving logic o… https://t.co/7tVeYlok6q
By contrast with life insurers, US public pension systems have shifted away from fixed-income securities as interest rates fell. Moodys
June 28, 2022
By contrast with life insurers, US public pension systems have shifted away from fixed-income securities as interest rates fell. Moodys via daily shot newsletter from