Portfolio Management articles

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Jim Reber: Picking the winners

Community bankers are investing where the Fed is not. By Jim Reber, ICBA Securities “Without losers, where would the winners be?” baseball great Casey Stengel once said. By now, it’s been made sufficiently clear the Federal Reserve Board is going big, so we don’t have to go (figuratively) home. Repo lines, money markets funds, multiple […]

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Jim Reber: Squeeze play

The Fed’s market interventions have a goal of shrinking spreads. By Jim Reber, ICBA Securities The Federal Reserve has been busy lately. The past 90 days have seen a rerun of sorts from what played out a decade ago, at the start of what is now known as the Great Recession. Several elements of its […]

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Jim Reber: Reconstruct, don’t deconstruct

Record-low yields create an opportunity to strategize on the fly. By Jim Reber, ICBA Securities Have you ever purchased a bond when the 10-year Treasury note yielded sub-1%? If you have, it was after March 4 of this year. In fact, you couldn’t have purchased a bond when the 10-year was under 1.10% until March […]

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Jim Reber: To the corner office

The bond portfolio fires back a reply to the community bank president. Read last month’s column. By Jim Reber, ICBA Securities Dear Community Bank President, Thank you for your kind letter this past month. It has been a crazy four weeks, which has delayed my response, so I appreciate your understanding. In fact, one of […]

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Jim Reber: Dear bond portfolio…

A community bank CEO addresses the bond portfolio. By Jim Reber, ICBA Securities Dear Security Inventory, Since we’ve finally gotten 2019 closed, the auditors are out of here (yay!) and the shareholders meeting is behind us, I thought it was time to catch up with you. I realize senior management has given you scant attention […]

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