UK/US/EUROPE - Equity markets could face a decade-long recession if property markets fall, State Street Global Advisors warns.
Chief investment officer Alan Brown said a fall in property prices would hit consumer confidence and tip the US, closely followed by others, into a double-dip recession.
As prices have been static since the 1990s, SSgA fears that a recession would send the US, UK and Europe into a deflationary spiral.
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.