BofA: The 3 Market Risks You Haven’t Thought About
One relates to the pandemic, one to politics, and one to federal stimulus.
Risk
Treasury Rejects Benefit Cut Requests from Musicians, Teamsters Pensions
MPRA rejections were the first under Treasury Secretary Mnuchin.
CDPQ Loses 2.3% in First Half of 2020, Misses Benchmark
However, the C$333 billion pension beat its benchmark over the past five and 10 years.
New York Comptroller and Colorado Pension Fund Named Lead Plaintiffs in Boeing Suit
The two collectively hold around $200 million in shares in Boeing, which they charge with ignoring safety issues around the 737 MAX for years.
Corporate Pension Plans’ Funded Status Dips for First Time Since April
A surge in liabilities from low discount rates dropped aggregate ratios 1.3 percentage points to 79.9%, Wilshire says.
UK Pension NEST Aims for Net-Zero Carbon by 2050
New climate change policy expected to halve portfolio’s carbon emissions within 10 years.
A Bad Sign? Lots of Corporate Insiders Are Selling Shares
This indicator has presaged two previous peaks, although its long-term record as a predicter is mixed.
New York Common Fund Loses 2.7% in Fiscal Year
The pension plan, which closed its books in March, had incrementally dialed up an allocation to conservative assets.
Maybe, Just Maybe, the Virus Woes Have Peaked
Commonwealth’s McMillan sees encouraging pandemic data, and thinks the recovery can continue.
Majority of REITs Will Experience Water Scarcity by 2030, BlackRock Says
Properties built in the Southwest, as well as abroad in places such as Australia, Hong Kong, and Malaysia, will have to compete more for water resources in the next decade, report finds.
Fitch Says GDP Impact from COVID-19 Will Last until Mid-2020s—If We’re Lucky
Report bases economic outlook downgrade on no renewed lockdowns.
Grim Outlook for Singapore Sovereign Wealth Fund after Poor Returns
GIC will continue to diversify with defensive strategies, including investing in rental and manufactured housing, data centers.
San Diego Magnate Masterminded $400 Million Liquor License Scam
Gina Champion-Cain pleads guilty to the largest Ponzi scheme ever uncovered in Southern District of California.
Maryland State Pension Receives $405,000 in LIBOR Restitution from UBS
The payout settles charges that the Swiss bank manipulated interest rate benchmark during the 2008 financial crisis.
Rhode Island Pension Returns 3.8% in 2020 to Hit Record-High Asset Value
‘Crisis Protection Class’ defensive strategy helps portfolio double benchmark’s return.