Companies Pull Annuities, Drop Rates
March 25, 2020 by Steve Morelli
Annuity companies are scrambling to reduce rates and starting to pull products from the market, said Sheryl Moore, Wink CEO.
Carriers are holding back while the equity and bond markets roil in volatility. Although the stock markets have been dropping persistently, bond prices have been fluctuating wildly, especially since the Federal Reserve cut its funds rate to near 0%.