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"The Rich Are Betting On Living to 100" ... After income inequality comes longevity inequality, Bloomberg's Ben Steverman writes:

"Most rich people ... are counting on living ... two decades more than average. In a new UBS Financial Services survey, 53 percent of wealthy investors said they expected to live to 100."

"Over the past few decades, the average person’s lifespan has risen almost everywhere in the world. In China, the U.S. and most of Eastern Europe, the average life expectancy at birth has reached the late 70s. ... People in Western Europe and Japan ... can expect to live into their early 80s."

"The life expectancy of Americans has declined for two years in a row, an anomaly that can be blamed in part on the country’s opioid abuse crisis."

A sad stat: "In the U.S., ... the richest 1 percent of American women by income live more than 10 years longer than the poorest 1 percent ... For men, the gap between the richest and poorest Americans is almost 15 years."

"The rich ... know that living to 100 is a pricey prospect, one that requires more spending on health care, better food, exercise."

"In the UBS survey, which focused on people with more than $1 million in investable assets, 91 percent said they’re 'making financial changes due to increased life expectancy.'"

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Updated 5 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Chris Christie: Wear a mask "or you may regret it — as I did" — Senate Democrats block vote on McConnell's targeted relief bill.
  2. Economy: Why the stimulus delay isn't a crisis (yet).
  3. Health: The pandemic is getting worse again New York reports most cases since MayMany U.S. coronavirus deaths were avoidable.
  4. Education: Boston and Chicago send students back home for online learning.
  5. World: Spain becomes first nation in Western Europe to exceed 1 million cases — France becomes the second.

Biden says he will appoint commission on Supreme Court reform

Photo: Chip Somodevilla/Getty Images

Joe Biden told CBS' "60 Minutes" this week that if elected, he would put together a bipartisan commission to study the federal court system and make recommendations for reform.

Why it matters: Biden has come under pressure to clarify his position on court packing after some Democrats suggested expanding the court if Senate Republicans confirm President Trump's Supreme Court nominee Amy Coney Barrett.

Dion Rabouin, author of Markets
36 mins ago - Economy & Business

Wall Street still prefers bonds

Illustration: Aïda Amer/Axios. Photo: Sunset Boulevard/Getty Contributor

Investors' return on U.S. corporate bonds has been falling since its August peak, but buying has only accelerated, especially in investment grade bonds that are offering historically low yields.

The state of play: Since hitting its 2020 high on Aug. 4, the benchmark Bloomberg Barclays U.S. bond aggregate has delivered a -2.2% return. (For comparison, the S&P 500 has gained 3.9% during the same time period.)

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