…will react to any rearrangement of the social security system’s portfolio in a way that completely neutralizes the effect of the portfolio change. For example, if the social security system…

…assets have a key characteristic: An asset portfolio that only contains money assets will never incur any (nominal) holding gains or losses (for better or for worse). Here are four…

…industry, given that financial wealth affects not only portfolio net worth but also the present value of labor income. Therefore, the sell-off in global risk assets may hit consumption more…

…tend to under-report the Chinese holdings, especially when they are shifting their portfolio holdings of US Treasuries up the curve. Well, that’s what the Chinese did in November: holdings of…

…there is another theory that savers have a goal they want to achieve, having a million dollar stock portfolio at retirement, for example. Remember, in the national accounts the annual…

…the euro down to parity (or lower) with the dollar. Of course, the euro’s weakness creates other problems: when the euro was strengthening last year due to portfolio shifts out…

…the covariance of the return on the asset and the returns on every existing portfolio must be positive — otherwise a little bit more of the asset is a hedge…

…it would outperform Treasuries every single year from 1945 through 2000. Now maybe 100 darts aren’t enough to get a properly diversified portfolio. I write this in response to the…

…76 percent of its mortgage portfolio as of year end. ResCap increased its allowance for loan losses to 2.17 percent at year-end from 1.55 percent a year earlier and reported…

…that ? First it is possible to construct an interest rate swap using a portfolio of older assets, bonds, bond futures, short positions on bonds and short positions on bond…