Corporate pension funds’ fortunes have reversed in the first five weeks of 2014 after benefiting from rising discount rates and soaring equity markets in 2013. The Moody's AA Corporate Bond index is down 30 basis points to 4.37% (a 6.4% change from the end of 2013). The Russell 3000 is off nearly 5%, and the MSCI ACWI ex U.S. is down 6.6%.
Mercer and BNY Mellon reported Tuesday corporate funding levels each firm tracks fell to 89% and 91%, respectively, in January.
