Unique financial nuggets

[Southie]

Re: Unique financial nuggets

@Southie

The earning for companies in the S&P 500 increased by $78 billion overnight. This did not require higher margins cost cutting increased sales or other usual suspects. It was achieved as a result od the TEMPORARY pension relief provision included as part of a transportation law signed by President Obama. The discount rate needed to calculate present value of future pension obligations was incelreased. Higher the discount rate, loser the present value of a fixed future obligations.

So magically lots of previously underfunded pensions got fully funded.

Here is the related post on Sept 2 for benefit of readers who are still recalling.

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