US - The stock market rally in April drove a 1.5% improvement in the funded status of the typical US pension plan, according to BNY Mellon Asset Management.
For the year to date, the funded status of the typical US pension plan has declined 2.3%.
Peter Austin, executive director of BNY Mellon Pension Services, said: "US stocks finally rallied after five months of negative performance as Fed easing and liquidity facilities calmed the markets."
"However, corporate yield spreads narrowed impressively against Treasuries, with long corporate bond yields 10 basis points lower than last month.
"Lower yields on longer-term corporate bonds resulted in higher liabilities for the typical pension plan," concluded Austin.
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