News

Market Update: August 2017

 Investment Advisory Services Market Update June 2017

INVESTMENT ADVISORY SERVICES: FEATURED ECONOMIC INDICATOR
Outlook Differs Between Stocks and Bonds

The stock market continues to move higher on stronger consumer and business confidence, driven in part by President Trump’s pro-growth policies. The bond market is sending the opposite message and reflects significantly less optimism about economic growth. Read more...

Public Finance Market Update: July 2017

PUBLIC FINANCE TRENDS
Credit Spreads and Change in IL Impact

This month, we analyzed the impact of a credit differential between a AAA bond issue and a Aa2 bond issue. The AAA issue sold at approximately 12-30 bps lower than the Aa2 issue, which is expected given the two notch rating advantage. Read more...

Market Update: July 2017

 Investment Advisory Services Market Update June 2017

INVESTMENT ADVISORY SERVICES: FEATURED ECONOMIC INDICATOR
Bond Market Battles Fed

In June, Fed policymakers lifted the Fed Funds Rate to a range of 1.00-1.25% and projected one more increase this year and three more hikes in 2018. Traders in the market for fed funds futures don’t agree. They see a 57% probability that the Fed lifts rates again in 2017. Read more...

July 2017

Press Release – PMA Grows LGIP Business in Iowa

Naperville, IL – July 24, 2017 – PMA Financial Network, Inc. and PMA Securities, Inc. (“PMA”) is pleased to announce that as of July 1, 2017, it has become the marketing services provider and the Fixed Term Automated (“FTA”) program provider for the Iowa Public Agency Investment Trust (“IPAIT”) Fund. (More...)

2017: Rounding Second and Headed to Third
CBInsight (Originally published on CBInsight.com, July 14, 2017)
Reprinted and posted with permission by CBInsight.com

By: D. James Lutter
Co-authors: Todd A. Terrazas and John Vaci

Market Outlook – As we entered 2017, our outlook called for limited returns in the U.S. fixed income market with higher prospective returns for U.S. equities. Continued low interest rates, an improving global economy, stronger corporate earnings projections and the potential wildcard of President Trump’s policy initiatives were supportive of our outlook. Thus far in 2017, market returns have surpassed our full year estimates despite weaker U.S. economic performance, large increases in short term interest rates and the lack of progress on policy initiatives due to a quagmire of investigations related to Russia’s involvement in the 2016 election. (More...)

Public Finance Market Update: June 2017

PUBLIC FINANCE TRENDS
National & State Market Update

This month, we compared two Aaa bank-qualified (BQ) transactions that reflect the degree to which interest rates have decreased since the end of 2016: one deal priced in December 2016 and the other in May 2017. Read more...

Market Update: June 2017

 Investment Advisory Services Market Update May 2017

INVESTMENT ADVISORY SERVICES: FEATURED ECONOMIC INDICATOR
GDP Revised Up 

Real Gross Domestic Product (GDP) was revised up more than expected to 1.2% from 0.7%. Economists expected GDP to be revised up to only 0.9%. While GDP remained low compared to the last two quarters, business investment was higher in the 1st quarter. Read more...

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