[taildragger]

So China will buy the quality (but not mature) 10 year bonds the GM pension funds holds,...at a discount because the fund needs cash?

Both Ford and GM are trying to reduce Pension Liabilities by asking early retiree's and retiree's to take a lump sum Cash or in Ford's case stay aboard the Pension or in GM's case take one of 2 annuity options with Prudential.

GM is trying to jettison all of it, Ford is going a little slower.

My guess this illiquid stuff is still valuable, and who has cash? The Chinese. They are now buying stakes or becoming whales(?) to these Funds.

[stephenjohnbanker]

” My guess this illiquid stuff is still valuable, and who has cash? The Chinese. They are now buying stakes or becoming whales(?) to these Funds. “

Once again....yep.

[Navy Patriot]

Thanks, I’m gonna have to do more homework to really understand what’s up.