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July 10, 2025
Our prior note on decoupling from China prompted several reader questions about tariff calculations. We stated that the effective tariff on imports from China generally runs well below the statutory rate. The chart below shows those two measures back to 2018 and President Trump’s first trade war. The statutory rate is simply the rate that President Trump announced (and President…
July 8, 2025
NISA’s Pension Risk Transfer (PRT) Credit Risk Monitor is a market-based measure of the relative credit risk of common PRT annuity providers (“insurers”) designed to assist fiduciaries in identifying a “safest annuity available” PRT provider as required by the Department of Labor’s Interpretive Bulletin 95-1.
July 8, 2025
The Pension Surplus Risk Index (PSRX®) decreased to 5.6% as both interest rate and equity volatility eased.
July 1, 2025
Equities and Treasury yields rose, and credit spreads tightened during a month in which the trade policy rollercoaster continued, Moody’s downgraded U.S. debt, and the House advanced a reconciliation bill that would further increase the federal deficit.
April 24, 2025
Review the discussion (~60 mins) between David Eichhorn and Stephen Douglass as they consider the latest economic and market developments of this volatile moment in American history.
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