The financial turmoil in March 2020 was in some ways more disturbing than in 2008. Why? Because it roiled the $20trn US Treasury market. And there is NOTHING scarier than that! See the new chart book newsletter:
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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