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

January 16, 2017 —The week Jamie Sumner, chief analyst, covers the Small Business Optimism Index for December 2017 along with the releases for Producer Price Index (PPI), Consumer Price Index (CPI) and Retail Sales. Although the Small Business Optimism declined from its November reading the index continues to point to optimism in the small business environment. However, these businesses are having difficulty filling open positions due to the lack of skilled applicants. As for inflation, the PPI and CPI both continue to show subdued inflation levels for December; although, core CPI did exhibit inflation that was greater than consensus. Lastly, retail sales did not meet consensus of 0.5%.
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RECENT BRIEFINGS

January 9, 2018


January 9, 2017 —This week Jamie Sumner, chief analyst, reviews the December 2017 Employment Situation report highlighting the type of jobs created and the slight appearance of wage inflation as the average hourly wages increased by 2.5% compared to December 2016. Additionally, Jamie reviews how the U.S. Treasury curve has changed over the past three years and presents some forecasted yield curves going out three years.   
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January 2, 2018


January 2, 2018 — This week Jamie Sumner, chief analyst, reviews the November inventories release and the Personal Income and Outlays report. Inventories were up in November which should help 4Q GDP. Additionally, personal income was up 0.3% with compensation increasing by 0.4%. This is a good sign as wages continue to increase. Personal consumption expenditures were also up by 0.6%. However, inflation came in at 0.2% with the core at 0.1%, month over month changes. The year-over-year inflation continues to remain well below the Fed’s 2% target. The Surveys of Consumers by the University of Michigan showed the sentiment index remaining strong as well as the expectations index. The consumer inflation expectation index remained relatively flat. Overall, the GDPNow index is showing the 4Q GDP projected at 2.8%, down from its prior reading of 3.3%.   
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December 19, 2017


December 19, 2017 — This week Jamie Sumner, chief analyst, reviews the recent Federal Reserve projections from their December 12-13 meeting. Additionally, Jamie reviews the November retail sales report and the October inventory report. Both of these reports point to a potential solid 4Q GDP outcome.   
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December 12, 2017


December 12, 2017 — This week Jamie Sumner, chief analyst, reviews the November 2017 employment situation report. Overall, the report continued to show a strong jobs market as 228,000 jobs were created while the unemployment rate was unchanged at 4.1%. Additionally, there still does not seem to be any signs of wage inflation as the average hourly rate increased by 2.5% over the past year.   
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December 5, 2017


December 5, 2017 — This week Jamie Sumner, chief analyst, reviews the Second Estimate of the 3Q 2017 GDP. On the surface the jump in the quarterly growth to 3.3% compared to the Advance Estimate was positive. However, when reviewing the details of the release there are areas of concern. These areas of concern caused the Atlanta Fed’s GDPNow index to fall to 2.7% for the 4Q2017. However, the GDPNow index recovered as the ISM manufacturing index showed positive movements in some of its components and an overall a positive construction spending report.   
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