In 2020 “on the books” budgeted stimulus in Germany is larger than in China. BUT as @laurimyllyvirta has pointed out, where are policy banks? State-owned commercial banks are key in China. @IMFNews Fiscal folks need to talk to Financial stability side!
imf.org/en/Publication… https://t.co/psWS2bYPLQ
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