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 Last week witnessed zero new applications, zero new approvals, zero disbursements of the SFA, and zero applications withdrawn.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...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. I've witnessed quite a lot during my forty years in this business, but I've never seen anything quite like that which I've seen during the last couple of weeks. Given the current...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. The 1970s were one of the most challenging times for our capital markets. The decade began somewhat harmlessly although equity valuations were inflated following incredibly strong equity markets during the 1960s. These...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. Last week the US Federal Reserve indicated that the discount rate increase of 25 bps was just the beginning of what might be 6 additional increases this year. Given the level of...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. As reported in their March 18th update on the PBGC website, two more funds - Milk Industry Office Employees Pension Trust Fund and Local 584 Pension Trust Fund - received approval for...