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Real Vision: Finance & Investing

Are Unfunded Pensions Secretly Driving Markets? (With Brian Reynolds and Tyler Neville)

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.11.1K Ratings

🗓️ 6 September 2019

⏱️ 39 minutes

🧾️ Download transcript

Summary

Brian Reynolds, former chief market strategist at Rosenblatt Securities, tells why unfunded pension liabilities are the real engine for the U.S. credit boom, and how this financial engineering has produced one of the greatest bull markets ever. A legal mandate requires these funds to earn 7.5% returns, and when they fail to do so, taxpayers foot the bill. As a larger percentage of these pensions are moved onto corporate balance sheets, the tightrope these pension funds walk gets more and more precarious. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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That's Real Vision. Thank you so much for listening to the Real Vision

0:40.7

podcast.

0:41.7

At Real Vision, we pride ourselves in providing the best in-depth expert analysis available

0:47.0

to help you understand the complex world of finance, business and the Global Economy.

0:53.2

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1:00.3

Visit Real Vision Podcast.com today and join us as we navigate the financial world together.

1:06.0

Cheers. Alex Rosenberg from Real Vision with another full audio version of an interview

1:26.0

that we released as a video on Real Vision for subscribers. Now this

1:30.5

conversation Brian Reynolds sits down with our reporter Tyler Neville

1:36.1

now Brian Reynolds may not be a household name but we had him on because he is the

1:42.2

expert in pension liabilities and how these pension funds are trying to

1:48.3

generate the returns they need, especially when the pensions themselves are unfunded or underfunded.

1:55.8

And so Brian is the former chief market strategies of Rosenblatt securities.

2:00.2

These guys sat down in late March in New Hampshire.

2:04.2

We brought a whole film crew up to New Hampshire

...

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