2. Josh Noble (Financial Times): In a week when S&P cut the outlook for US debt to ‘negative’, Josh Noble’s review of the move by Dagong (China’s official ratings agency) to downgrade the US from AA to A+ is prescient. Definitely worth reading.
4. Judy Ward (Institutional Investor): Judy previews accounting changes expected from the Government Accounting Standards Board (GASB) in June of 2011. It appears likely that rather than applying the risk-free rate to value liabilities as the market and logic dictate, pensions may be permitted to continue using optimistic self-set discount rates to the funded portion of their plans and a high-quality muni bond index rate for unfunded obligations.
5. Fran Denmark (Institutional Investor): Fran takes a detailed (12 page) look at evolving risk management practices among the endowment community. There is not much ‘new’ in here but there is a lot of detail about risk management practices across various endowments.
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