Fed bilateral swap lines developed in 1960s to manage Bretton Woods exchange rate pressure and $ funding pressures rose in scale to match those in first phase of Fed intervention 2007-8. Remarkable charts from Catherine Schenk’s BIS lecture streaming here.
bis.org/events/per_jac… https://t.co/Yj0IEJAmPM
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