The Week in Public Finance: Pensions, Hedge Fund Sneakiness and Retirees
Moody pension blues
The
Still, annual pension costs aren't a big burden for many of the largest local governments --
Sneaky hedge funds
The folks at the Wells Fargo research desk looked at who's buying municipal bonds and stumbled across a somewhat troubling realization: there's no good way to see how much hedge funds are becoming buyers in the
But where are hedge funds? Anecdotally, we know more hedge funds have entered the market -- they were the biggest buyers of cash-strapped
With the rise of hedge fund holdings and the decline of overall household holdings, Cohen and Eappen estimated that means the "true" individual retail investor has reduced holdings about 25 percent since 2011. That's potentially a major shift in who holds municipal bonds. "Such a reduction in retail holdings makes sense," said Cohen and Eappen, given the concerns back in 2013 when the Fed threatened to raise interest rates, the
Retirement insecurity
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Called State Financial Security Scorecards, they are available for all 50 states and the
The report found that the highest-ranking states were
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