Hybrids Plummet, Private Credit Booms, Pensions Dive: Credit Chat
FICC Focus
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BI Credit Pensions - Is This a Necessary Thing?
Boeing has a large underfunded pension position, but they were able to take care of a large slug of that thanks to ARPA being passed and I think they're going to also experience a net benefit this year too. The discount rate largely approximates the yield on the Moody's AA index in 2020 and 2021. So I don't think that that's going to hinder their ability to sort of meaningfully raise the discount rate.
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