If you wanted one chart that summarizes the plight of the pension industry going forward to their desperation for alternative sources of yield, here it is. This IMF chart from shows the total number of fixed income securities yielding more that 4%. Since 2007, the USD amount of these securities has fallen by 89% from $15.8tn to $1.8tn currently. Extraordinary!!!
From the IMF's October Global Financial Stability report: