Word: bondses
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Mercer analysts attribute the developments mainly to the collapse of the equity market, in which many U.S. pension plans are invested. But pension funds are being hit on the other side of their balance sheet as well, as declining yields on Treasury bonds swell the size of their pension fund...
But these are not normal times. Right now the foreclosure rate is running at 3%, and it could ratchet higher in the next few years if the recession drags on. The government could mitigate its losses by only lending to people with high credit ratings. But even high quality borrowers...
Leveraging its strong credit ratings—the highest granted by rating agencies Moody’s and Standard & Poor’s—Harvard will issue new taxable fixed-rate debt. Unlike tax-free debt, these bonds can be used for any University expenditure and thus increase Harvard?...
The University will also convert existing short-term tax-exempt debt into bonds with longer maturities, allowing the University to postpone short-term payments to debt holders and retain a larger financial cushion to the volatility in the credit markets.
But even if that's not the case, selling after such a big drop makes no sense for most people. Dozens of studies have shown that if you wait for confirmation that a recession has ended before you buy, you'll all but miss the corresponding rebound in stocks. One...