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Stock impact report

Public Pensions Face Reckoning From Equity Rout, Tax Losses [Yahoo! Finance News]

Aon plc Class A Ordinary Shares (Ireland) (AON) 
Last aon plc class a ordinary shares (ireland) earnings: 5/1 06:00 am Check Earnings Report
) -- U.S. public pensions suffered a double blow from the coronavirus pandemic: losing hundreds of billions of dollars in the equity market rout just as unprecedented revenue losses piled up for the governments that pay into the funds.Funding levels will be under stress because of the losses in the financial markets, and at the same time, governments may struggle to make up the difference as the economic shutdown to stem the outbreak slashes their income.In March, Moody’s Investors Service estimated that public pension investment losses were nearing $1 trillion. During the first quarter, the Index plunged the most since the Great Recession. Equity markets have since rebounded in April, and the Moody’s composite used to make the projection now implies returns of -9% instead of -21%, though the virus continues to inject jarring volatility into markets.“Without a dramatic bounceback of investment markets, 2020 pension investment losses will mark a significant turning point where the dow Show less Read more
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