Baby boomers sell-off may depress equities: SF Fed paper


As the baby-boom generation reaches retirement age, plans to finance their retirements may hold down equity valuations over the next two decades, a San Francisco Federal Reserve paper, published on Monday, says.

Zheng Liu and Mark Spiegel, the paper's authors, examine the historical relationship between US demographics and equity values and the implications of these demographic trends for the future path of equity values.

They find as more people reach retirement age, they are likely to shift

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