Market Moves
Here’s a Bullish Call: JPM Says We’re Entering ‘Market Nirvana’
The bank credits split government, a possible vaccine, Fed actions, and possible trade war abatement.
News Archive: Nov - 2020
Pensions
Funded Status of US Corporate Pensions Rises $21 Billion in October
Aggregate deficit of 100 largest defined benefit plans falls to lowest level since March.
Market Moves
Japan’s Government Pension Investment Fund Returns 3.05% in Q2
World’s largest pension fund grows to $1.62 trillion with $47.64 billion quarterly gain and is on pace for its best year ever.
Market Moves
Dr. Doom: Partisan Divisions Will Axe a New Stimulus—and Bring Another Downturn
To economist Nouriel Roubini, a breakthrough is unlikely either in a lame duck Congress or the one next year.
Asset Management Culture
Two More Pension Funds Apply to Treasury Department for Benefits Cuts
Arizona Bricklayers’ fund submits its first application, while Michigan Carpenters’ fund applies for the second time.
Asset Management Culture
J.C. Penney Completes Pension Liabilities Transfer to PBGC
The long-beleaguered American retailer is offloading its obligations as part of a sale to mall operators Brookfield and Simon Property.
Regulation
FBI Arrests Head of Wealth Management Firm for Fraud
Terrence Chalk, aka Dr. Cash, allegedly hid his criminal past to defraud investors out of more than $4 million.
Corporate Moves
Corporate Insider Buying Plummets: Bad Portent?
Executives last month purchased lowest amount in four years.
Asset Allocation
Kentucky Retirement Systems Leans into Stocks, Real Estate
Investment committee members are dialing up risk levels to meet return assumptions.
Risk
Mississippi Pension Sues Portland General Electric over Energy Trading Losses
Lawsuit alleges ‘false and misleading’ statements by the company, its CEO, and its CFO ‘wiped out’ over $300 million in market value.
Pensions
US, UK Corporate Pension Deficits Widen Due to Falling Equity Markets
Rising discount rates were not enough to offset markets spooked in October by surging COVID-19 cases.
Market Moves
A Divided Congress Is Good for Stocks, Study Says
When neither party controls both side of Capitol Hill, the S&P 500 does best, per LPL study.
Pensions
10 Ways to Close Public Pension Funding Gaps
NCPERS research identifies actions governments can take to close pension funding gaps without resorting to detrimental ‘knee-jerk’ reactions.
Asset Allocation
Mubadala Wants to Turn Parking Lots into Hubs for Restaurants
The Abu Dhabi sovereign wealth fund’s investment is a vote of confidence in delivery and last-mile distribution services.
Market Moves
Housing Surge May Be Ebbing, Economist Says
Much of the action has been in the high end of the market, notes TS Lombard’s Brennan.