Asset/Liability Management

HEAR WHAT THE S&B TEAM HAS TO SAY

Listen in as our analysts discuss an array of topics that may be affecting your institution, including recent market movements and industry-wide commentary. These briefings can serve as educational tools for both boards and management.

Watch the Latest Briefing

October 17, 2017 —This week Jamie Sumner, chief analyst, reviews the inflation numbers for September and retail sales. Overall, inflation remains to be soft and unsupportive of a continued increase in the fed funds rate as projected by the FOMC’s dot plot. Retail sales were up 1.6% in September. However, the growth was primarily related to the aftermath of this year’s hurricanes. With last week’s releases the GDP Now forecast for the 3Q 2017 GDP was increased to 2.7%.
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RECENT BRIEFINGS

October 10, 2017


October 10, 2017 — The week Jamie Sumner, chief analyst, reviews the September Job report and the residential real estate numbers that have come out over the past several weeks.   
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October 3, 2017


October 3, 2017 — The week Jamie Sumner, chief analyst, reviews several of the economic releases from last week including the third estimate of the 2Q 2017 GDP, personal income and outlays, durable goods orders and inventories. Overall there was a positive trend in the releases last week which would support a solid 3Q GDP.   
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September 26, 2017


September 26, 2017 — This week Jamie Sumner, chief analyst, reviews the FOMC’s post-meeting statement as well as the dot plot along with their new set of projections. Once again, the fed holds the target rate at the 1-1.25 range. However, their dot plot suggests they anticipate one more rate hike this year. This is important to keep in mind as you begin your budgeting for 2018 as an additional rate hike this year could potentially trigger a need to increase your deposit pricing. As for their projections, we saw minor changes from their June 2017 projections…low economic growth rates, leveling off of the unemployment rate and below targeted inflation.   
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September 19, 2017


September 19, 2017 — This week, Jamie Sumner, chief analysis, reviews several releases from last week including the inflation gauges of the producer price index and consumer price index. While the producer price index came in below the consensus, the consumer price index’s core reading came in at consensus with a reading of 0.2% month over month change. However, Hurricane Harvey did have an impact on the CPI results in August. Both inflation indices continue to point to an inflation level below the Fed’s 2% target. Additionally, retail sales came in at a disappointing -0.2% for August while the July number was revised down to 0.3% from 0.6%. Lastly, industrial production came in at -0.9% as a result of Hurricane Harvey. Putting these, and other releases, all together resulted in the GDPNow falling to 2.2% as a forecast for the 3Q 2017 GDP.   
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September 12, 2017


September 12, 2017 — This week Jamie Sumner, chief analyst, reviews the positive second estimate of the 2Q GDP along with the employment situation report. While the 2Q GDP was revised up to 3%, the employment report showed the number of jobs created in August 2017 falling to 156,000 and the unemployment rate increasing to 4.4% from 4.3% in July. Additionally, the employment situation report showed average hourly earnings up 2.5% from August 2016 which remains below the 3% historical average.   
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September 5, 2017


September 5, 2017 — This week Jamie Sumner, chief analyst, reviews the positive second estimate of the 2Q GDP along with the employment situation report. While the 2Q GDP was revised up to 3%, the employment report showed the number of jobs created in August 2017 falling to 156,000 and the unemployment rate increasing to 4.4% from 4.3% in July. Additionally, the employment situation report showed average hourly earnings up 2.5% from August 2016 which remains below the 3% historical average.   
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