By: Russ Kamp, Managing Director, Ryan ALM, In c. The recent banking crisis was driven in large part by the rapid rise in US interest rates that created losses for SVB's investment portfolio (Treasury holdings) and other banks and drove...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. We are pleased to provide you with our weekly update on the PBGC's activity as it relates to the processing of applications for Special Financial Assistance (SFA) under the ARPA legislation. As...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. The flight to quality that occurred as the banking system teetered drove US Treasury yields down dramatically. However, in the process, did it create a situation in which Treasuries were overbought? Given...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. The recent banking "crisis" has once again highlighted the willingness on the part of fixed-income "investors" to buy and hold bonds that are losing value to inflation every day. It makes little...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. We've entered a new period for the ARPA/SFA process. As we mentioned previously, effective March 11, the non-Priority plans were permitted to either Lock-in an application's details and/or place the plan's name...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. Early last week, shortly after Fed Chairman Powell delivered his testimony to Congress, US Treasury yields moved skyward. There seemed to finally be a realization that US inflation, while down from its...

By: Ronald J. Ryan, CFA, CEO, Ryan ALM, Inc. The recent run-on-banks has several villains or reasons why this happened. Yes, there is a flight to big banks and quality. But the word that I do not hear is DISINTERMEDIATION....

By: Russ Kamp, Managing Director, Ryan ALM, Inc. The volatility witnessed in the capital markets during the last week or so has been incredible. As it relates to US fixed income, the interest rate moves have been nearly unprecedented. As...

By: Russ Kamp, Managing Director, Ryan ALM, Inc. Despite the fact that most investors are either focused on the demise of Silicon Valley Bank (SIVB) or on filling out their NCAA tournament bracket, life goes on in the multiemployer world....

By: Russ Kamp, Managing Director, Ryan ALM, Inc. The US interest rate environment might be creating challenges for the investing community, but it is providing wonderful opportunities for pension plan sponsors who want to SECURE the promised benefits with little...