By: Russ Kamp, Managing Director, Ryan ALM, Inc. The first quarter 2022 performance returns are rolling in and as we've been reporting they aren't good. They aren't good for equities, VC, BONDS , and likely other segments of our capital...

I penned the original post on 3/17 . Why did it take this long for investors to realize that the Fed wasn't kidding? US interest rates, particularly on the backend of the curve, have moved massively over the last two...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. We've written about the asset allocation rollercoaster to uncertainty (ruin) and discussed the massive shift away from bonds toward riskier, less liquid assets that has transpired during the last 4+ decades and...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. "The Lost Decade", a phrase originally used to describe Japan's economic performance during the 1990s, has been recently showing up in story after story in the financial press. In fact, Stifel's chief...

By: Ronald J. Ryan, CFA, CEO, Ryan ALM, Inc. The Commerce Department reports with some glee that sales and income figures show an easing up of the rate at which business is easing off, which is taken as proof that...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. I'm pleased to report that the PBGC yesterday announced that another pension system's SFA application has been approved. Teamsters Local 641 Pension Plan, which originally filed for the SFA on September 9,...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. The inflationary environment and the impact of Federal Reserve tightening are combining to create a challenging environment for traditional fixed income core mandates - the significant majority of fixed income exposure among...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. A former colleague has for years provided me with an excellent monthly performance report from a terrific regional asset consulting firm. What had been a 7-8 page document of equity and fixed...

Here's the latest from the PBGC through March 25th. Last week witnessed zero new applications, zero new approvals, zero disbursements of the SFA, and zero applications withdrawn. So much for progress! But who can blame the PBGC, as March Madness...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. Earlier today I published a post titled, "This Doesn't Make Sense" , in which I questioned the current market action for US equities (especially large-cap growth stocks) given the great uncertainty associated...