Discusses the impact of the low interest rate environment on fixed income investors and examines data regarding the funded/unfunded status of pension plans as well as the discount rates assumed by companies in calculating the present value of their post-employment benefit obligations. Stocks covered: Lockheed Martin Corp. (LMT), Huntington Ingalls Industries Inc. (HOO), United States Steel Corp. (X), AK Steel Holding Corp. (AKS).

Download: Devil’s Advocate Compendium September 2012