By: Russ Kamp, Managing Director, Ryan ALM, Inc. As everyone knows, corporate defined benefit (DB) plans have been disappearing like the dinosaur. However, rising US interest rates following a 39-year bond bull market might just prove to be the antidote...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. A massive Blue Fin Tuna was caught off the coast of Florida a couple of days ago. The 832-pound tuna may prove to be a Florida state record, but it doesn't compare...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. I published a year-end post (actually December 27, 2021). Here was the concluding paragraph: So, in conclusion, 2021 was a terrific year for pensions. Now what? Given the improved funding and general...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. The start to 2022 hasn't been great unless you are a long-suffering Mets Fan - great 5-run rally in the 9th to win last night. But I digress. It has been a...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. In 1970, the Carpenters released the song "We've Only Just Begun", as part of the album "Close to You". I mention this because there are a couple of lines from the song...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. Another week, and a little more progress. Happy to report that the PBGC approved three additional Priority Group 1 applications last week. The pensions systems receiving approval included, the Retirement Benefit Plan...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. What is the value of time? When it comes to investing, time can be a wonderful tool. When you have a long time horizon, you can seek out investments that have the...

Please don't tell me that the equity market's afternoon swoon has to do with Powell indicating that a 50 bps move is on the table (if not locked in). Where have you been hiding if that is the case? Once...

I warned bond investors just the other day about potential default risk escalating. The WSJ published an article yesterday about the potential impact of rising rates on leverage loans, which financed nearly $1 trillion in acquisitions just in 2021. Quarterly...

By Russ Kamp, Managing, Director, Ryan ALM, Inc. There was a little more activity related to ARPA and SFA approvals, which I will address in my next update. However, the bigger news surrounding ARPA is the impact of rising rates...