US. Fragile Retirement Funds Tested by Market Volatility, Bond Yields
The list of institutions challenged by the impact of the coronavirus now includes America’s pension funds. State and local government retirement systems face the difficult task of trying to plug funding gaps while protecting against investment losses. The past two weeks of falling bond yields and heightened stock-market volatility have made that job even more complicated. Pension funds have for years been piling into stocks to try to reduce shortfalls after a decadeslong slide in bond yields slashed the...
