The Importance of Asset Pricing and ALM Strategy for Credit Unions
As if navigating the 2008 Housing Crisis and 2020 Global Pandemic weren’t enough, credit unions now face the most feared economic monster of all –…
Read More The Importance of Asset Pricing and ALM Strategy for Banks
As if navigating the 2008 Housing Crisis and 2020 Global Pandemic weren’t enough, banks now face the most feared economic monster of all – inflation.…
Read More Interest Rate Risk in 2022: Assumption Junction
In March this year, the Federal Reserve lifted interest rates for the first time since 2018. Today, both the bond market and FOMC have set…
Read More Deposit Betas: Looking into the Future
Over the last two years, the banking industry has experienced massive deposit growth, which flooded banks with excess liquidity. Most of the deposits flowed in…
Read More 2022 Key MBS Themes and the Case for Specified Pools
The mortgage market is already off to a volatile start in 2022 with Treasury yields soaring, spreads widening, and mortgage rates breaching 4%. The Federal…
Read More Public Pension Update
Municipal bond investors finally have some good news regarding public pension plans after worrying about growing unfunded pension liabilities for many years. The Pew Charitable…
Read More The Fed’s Balancing Act for 2022
On the first trading day of 2022 the US 10yr Treasury Note yield jumped above 1.60%, then traded up another 10bps in the two subsequent…
Read More Is Your Investment Portfolio Properly Anchored
Many financial institutions saw record investment growth in 2020/21 as large stimulus payments bloated balance sheets and far outpaced loan demand. This surge in deposit…
Read More Under Pressure – Net Interest Margins
A long time ago there was an adage in the banking industry known as the “3-6-3 rule,” meaning the banker would gather deposits at three…
Read More New Mortgage Modification Options
By year end, over half of Government-Sponsored Enterprise “GSE” (conventional) forbearance plans and approximately 70% of Ginnie Mae forbearance plans are estimated to expire. Conventional…
Read More Checking In on the Banking Industry
2020 was a year of challenges in many aspects of life, business, and the economy. The start of 2021 brought a close to a tumultuous…
Read More Trusting the Fed on Inflation
The narrative for the US economy has shifted as we move into the second half of this year. Not long ago, financial markets were saturated…
Read More Muni Credit Update
At the onset of the COVID-19 pandemic in the United States, strict shutdowns and stay-at-home orders created concern for the economy and municipal finances. Forecasts…
Read More Is Opportunity Cost Hurting Our Bottom Line
As the US economy continues to work its way out of the recession brought on by the Covid-19 pandemic, many economists debate what the future…
Read More Perspective on Inflation Dynamics in 2021
The Fear There is growing concern that the trillions of dollars of stimulus created by governments and central banks to fight the economic fallout of…
Read More Muni Bonds & Rate Volatility
Ask any fixed income portfolio manager in the world what the first rule of investing in bonds is and you’ll hear the phrase above or…
Read More Riding the Liquidity Waves
Before the COVID-19 pandemic took hold on the world and the United States, many community bankers watched the slow fall of their on-balance sheet liquidity.…
Read More Forbearance Expiry Expectations
A wave of forbearance expirations expected this spring has investors anxiously awaiting clarity on what it will mean for the mortgage market. COVID-19 forbearance plans…
Read More 1601 NW Expressway, 20th Floor
Oklahoma City, OK 73118-1466
Phone: 405.415.7200
Toll-Free: 800.937.2257
Fax: 405.415.7392
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