World’s Largest Pension Fund Loses $61,000,000,000 in Three Months Amid US Dollar Decline

The largest pension fund in the world just announced a multi-billion dollar loss largely due to the declining value of the US dollar. Japan’s Government Pension Investment Fund (GPIF) recorded a $61.1 billion shortfall in the January-March quarter, its first across-the-board loss in all asset classes since mid-2022, reports the Japan Times. The depreciating dollar, down 4.6% against the yen, significantly reduced the value of GPIF’s international holdings. Global stock markets also faltered, with the MSCI All-Country World Index declining 1.7%, the S&P 500 falling 4.6%, and Japan’s Topix index dropped 4.5%. The deficit reduced GPIF’s assets to $1.73 trillion,...