bullish
The Pension Funds Drama Explained
SUMMARY
- The size of the global pension fund industry is estimated to be in the $35-40 trn area.
- It's a very large and systematically important industry not only because of its size, but also because of its social impact - most of us look forward to retirement after decades of hard work.
- We recently got some scary headlines coming from the UK: pension funds were about to blow up, and the Bank of England had to backstop them by limiting the relentless rise in 30-year yields.
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