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January 2026 Bond Market Review

December economic data signaled moderating inflation alongside a continued rebalancing in labor market conditions, with price pressures still running modestly

December 2025 – Bond Market Review

The near-term economic outlook continues to be distorted by the data delays from the government shutdown. Recently released government data—reflecting

Section 115 Trust Considerations for Public Agencies for Funding OPEB Obligations

Across the country, public agencies, corporations, and individuals face the challenges of funding increasing retirement benefit costs. One of the major reasons that retirement benefit costs continue to rise is due to lower expected future investment returns. Although there are many approaches and tools to address retirement benefit costs for public agencies, in this summary we will focus on how a Section 115 Trust can be used as a tool to meet the challenges of increasing retirement benefit costs for other post-employment benefits (OPEB) and pension costs.

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