Re-Opening the Economy Won’t Do Stocks Much Good, Says Yale Expert
Portent: Chinese consumers remain fearful about going out after lockdown lifted, ex-Morgan Stanley honcho Roach warns.
News
Bloomberg Fined $5 Million by SEC for Brokerage Practices
The company’s subsidiary, Bloomberg Tradebook, allegedly transferred low-commission client orders to unaffiliated broker dealers.
Public Pensions Could Suffer for Years from Pandemic Losses
Employers will have to increase contributions unless markets rebound sharply, says S&P.
Sam Zell: Nice Distressed Real Estate Bargains Are Ahead
The Grave Dancer says virus shock will scar Americans’ psyches, but should benefit bargain hunters like him.
Former PBGC Official Pleads Guilty to Bribery Conspiracy
Jeffrey Donahue could face 15 years in prison for conspiracy to bribe a public official.
Pandemic Blots One Year’s Worth of Gains from Canadian Plans
Corporate, public, and university funds lost a median 7.23% in the first quarter from falling equities, BNY Mellon says.
Alaska Permanent Fund Contemplates a New Dalio-Backed Gold Allocation
The new allocation would provide the portfolio with a new risk-mitigating asset class, citing the support of Bridgewater Associates’ Ray Dalio.
Why Not to Sell in May and Go Away
The summer season has been pretty good to stocks over the past eight years, LPL notes.
Harvard Forecasts Big COVID-19-Related Losses and Enters Cost-Saving Mode
University projects a $750 million revenue shortfall in FY21 in light of the economic fallout of the coronavirus.
Denver Retirees Ordered to Return $11 Million in Benefits
A local investigation found overpayments ranging from $3,000 to $3 million to be recouped.
Pandemic Relief Could Risk Spousal Retirement Security
Women at higher risk of being hurt by easing of retirement savings requirements.
Funding for Corporate Plans Ticks Up After Record April
Aggregate funded ratio for company pension funds rose 2.2 percentage points, the first monthly uptick this year, Wilshire report finds.
UK Corporate Pension Funding Hammered by Pandemic in April
FTSE 350 company plans swing to £52 billion deficit from £10 billion surplus during the month.
Trump Considers Banning Chinese Stock in Federal Pension, Reports Say
The White House is reportedly reviewing its options against a planned investment into Chinese equities.
Foolish Hope Will Doom the Current Rally, Savant Says
Investors will see that things aren’t getting much better, and that will reverse stocks’ recent surge, warns James Bianco.