Reminder that even US Treasuries, despite being very liquid assets, are not perfect substitutes for the most liquid… https://t.co/y0FiY6iIlY
By contrast with life insurers, US public pension systems have shifted away from fixed-income securities as interest rates fell. Moodys
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