Letter from US: Pension bonds raise concerns

Emily Swenson Brock

The resurgence of interest in pension obligation bonds (POBs) is one of the effects of the pandemic on the US pension funds industry. Indeed in 2020 POB issuance reached its highest level in a decade, exceeding $6bn (€5bn), according to Municipal Market Analytics (MMA), an independent research firm focusing on the US municipal bonds.

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