40SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,James Lutter D. James (Jim) Lutter is the Senior Vice President of Trading and Operations at PMA Financial Network and PMA Securities where he oversees PMA Funding, a service of both companies … Web: pmafunding.com Details The Fed is still on course to raise interest rates 25 basis points in June. This would be the second rate increase in 2017, despite a GDP reading of .7 percent year over year, and inflation running below their stated goal of 2 percent. Other recent data points include solid job gains and a declining unemployment rate under 5 percent.Bottom line – the implied probability of a June 14th rate hike is now 100% (as of May 9, 2017).With this in consideration, what impact will a rate change have on your institutional MMA and DDA depositors? Based on your current pricing model, do you anticipate an increase, decrease or stability amongst this group of depositors? What is the end goal; funding stability through an active model or funding volatility utilizing a passive model? These are important questions to address early on in a changing/volatile rate environment. Your pricing strategy will predicate the level of funding stability.For example, envision pulling on a rope from both sides (tug of war). On one side, there is pricing strategy, and the other is funding stability. Depending on how hard either side is pulled, the amount of resistance will determine your stability. In a changing rate environment, if you’re experiencing decay, (whether rapid or persistent) you’re out of equilibrium in your pricing.Although the FOMC meeting is next month, market based rates have continued to ramp up in anticipation of this rate hike. The greater the probability the Fed will increase rates, the greater the impact it will have on other fixed income investments. The below graphic illustrates the spread differential of one month LIBOR to Fed Funds. Investments such as overnight repo, FHLB advances, agencies, treasuries and commercial paper increase in yield leading up to the Fed increase.What does this mean to you? Your institutional investors are actively being solicited (pulled at) by competing fixed income investments through investment advisors, broker dealers and other financial institutions. If you are deploying a passive pricing strategy where you are in a holding pattern until after the Fed movement, then you need to assume that you’re not in equilibrium. You will begin to experience some decay amongst a percentage of your instructional depositor base. With each Fed modification to the overnight rate, your depositor base is continually being solicited, (pulled at) which will lead to an eventual acceleration in the decay rate. Back to the rope example, the greater the force out of equilibrium, the greater the impact on the shift. The rope scenario is dynamic, as is your decay rate.What is the end goal: an active or passive pricing/funding strategy? Typically, financial institutions hold between 60 to 80 percent of the liabilities and non-duration accounts. If one is looking to reduce reliance on institutional investors, a passive strategy may be acceptable. If not, the passive strategy may end up costing more with heightened volatility than an active market-based strategy.
Wins by Larson, Shryock headline Jackson NationalsJACKSON, Minn. (Sept. 28) – Dustin Larson was the big winner dollar-wise Saturday at Jackson Speedway while Kelly Shryock’s run to the checkers put him on the ballot for one of IMCA’s highest profile races. The two joined Cory Probst, Matt Looft and Megan Lappegard as IMCA winners at the 35th annual Jackson Nationals. Larson earned $1,500 for his IMCA Sunoco Stock Car victory, part of the Doug Cellan Memorial, while $1,100 checks went to Shryock in the IMCA Xtreme Motor Sports Modifieds, Probst in the IMCA Sunoco Hobby Stocks and Looft in the Karl Chevrolet Northern SportMods. Lappegard’s Mach-1 Sport Compact checkers were good for $500.Larson drew the pole start and stayed in front all 20 laps in the Stock Car main. He made the most of the middle line in outrunning Roger Verdoorn to the checkers for his 17th victory of the season. Jim Larson, Ken Tietz and Andy Altenburg were next across the stripe. Shryock didn’t get to the front until the 20th and final circuit in the Modified main. He’d been part of the pursuit behind Roger Nielsen. A caution had erased his move past Mark Noble and into second with six to go before he rallied to catch Tad Reutzel coming out of the first set of turns and win the dash to the checkers. “It was an exciting race,” the first-time Fast Shafts All-Star Invitational ballot qualifier said. “There were a lot of good cars and any one of them could have won it.” Reutzel, Josh Meyer, Clayton Christensen and Greg Jacobsen completed the top five.Three early cautions stymied the start of the Hobby Stock feature. Probst led start to finish, taking the checkers comfortably ahead of Cory Gansen and gaining some atonement for a $1,000 to win race earlier this season at Redwood Speedway he’d been leading but fell out of the running with the white flag out and a flat tire. Malik Sampson, Jeremy Wagner and Justin Luinenburg were next across the stripe.Looft needed four laps to take the lead from his outside row two starting spot in the SportMod main. A green, white, checkered finish made it a bit hairy end as Jason Fisher kept the pressure on all the way to the end. Scored next were Randy Winter, Nick Dieter and Carter Shumski. The win at Jackson was the second of what turned out to be three victories over the weekend for Looft. The fastest in a 21-car field, Lappegard started outside the front row and led every lap in a time-shortened contest. Her 12th victory of the season came ahead of Cory Flanigan, Kaytee Mawson, Ryan Bryant and Terry Blowers. Feature Results Stock Cars – 1. Dustin Larson; 2. Roger Verdoorn; 3. Jim Larson; 4. Ken Tietz; 5. Andy Altenburg; 6. Jake Masters; 7. James Richert; 8. Dean Nething; 9. Dan Mackenthun; 10. Rich Gregoire; 11. Derek Green; 12. Max Hoffer; 13. Mathew Lux; 14. Luke Sathoff; 15. Jason Mickelson; 16. Gary Mattison; 17. Bob Rebstock; 18. Scott Knudson; 19. Dan Dhaene; 20. Todd Brockman; 21. Chris Palsrok; 22. Chris Meyer; 23. Elijah Zevenbergen; 24. Brent Reierson. Modifieds – 1. Kelly Shryock; 2. Tad Reutzel; 3. Josh Meyer; 4. Clayton Christensen; 5. Greg Jacobsen; 6. Roger Nielsen; 7. Mark Noble; 8. Jim Horejsi; 9. Austin Lucas; 10. Josh Rogotzke; 11. Jeff Larson; 12. Brandon Beckendorf; 13. Dwain Hanson; 14. Dan Menk; 15. Randy Klien; 16. Warren VanWesten; 17. Nyle Norgquist; 18. Curt Lund; 19. Brett Meyer; 20. Mark DeVary. Hobby Stocks – 1. Cory Probst; 2. Cory Gansen; 3. Malik Sampson; 4. Jeremy Wagner; 5. Justin Luinenburg; 6. Brandon Nielsen; 7. Drew Barglof; 8. Jeff Senne; 9. Guy Kimpton; 10. Darin Johnsen; 11. Dustin Smith; 12. Jesse Totten; 13. Lee Fetchenheir; 14. Kevin LaTour; 15. Shane Harazin; 16. Chanse Hollatz; 17. John Briggs; 18. Merle Pattison; 19. Justin Nehring; 20. Jay Sidles; 21. David Miller; 22. Alan Stammer; 23. Doug Wickman; 24. Weston Koep. Northern SportMods – 1. Matt Looft; 2. Jason Fisher; 3. Randy Winter; 4. Nick Dieter; 5. Carter Shumski; 6. Adam Ecker; 7. Jason Andrews; 8. Kyle Steuber; 9. Troy Rink; 10. Bobby Egeland; 11. Jeff Carter; 12. Lyle Sathoff; 13. Darin Roepke; 14. Ben Chukuske; 15. Eric Kinnetz; 16. Mark Garver; 17. Matt Marrow; 18. Tim Rupp; 19. Tim Bagerson; 20. Nathan Chukuske; 21. Dan Paplow; 22. Danny Myrvold; 23. Tom Malchow; 24. Nick Johansen.Sport Compacts – 1. Megan Lappegard; 2. Cory Flanigan; 3. Kaytee Mawson; 4. Ryan Bryant; 5. Terry Blowers; 6. Cory Peters; 7. Dusty Seachris; 8. Jay DeVries; 9. Matt Engesser; 10. Jason Bolte; 11. Blaney Markman; 12. Tim Doocy; 13. Jon Joehnck; 14. Dalton Lewis; 15. Kyle Hansen; 16. Dan Johnson; 17. Nikkya Betz; 18. Tony Salmon; 19. Neil Forsberg; 20. Stephanie Forsberg; 21. Justin Veloz.
Syracuse football’s training camp begins July 30. Every day leading up to camp, The Daily Orange’s football beat writers will take a look at some of the upcoming season’s most pressing storylines, players and position battles. Read more on the Countdown to Camp here.For the second straight offseason, the questions surrounding Eric Dungey have nothing to do with his play.The junior quarterback averaged 297.7 passing yards per game and had 293 rushing yards for the season. He accounted for 21 touchdowns. Yet Dungey missed considerable time. For the second straight year, he missed the last three games of the season due to “upper-body injury.”Dungey took a step forward last year as a quarterback despite learning a new system from the year prior. His second year in Dino Babers up-tempo offense should help him solidify his spot in the upper echelon of Atlantic Coast Conference quarterbacks. The one hurdle he’ll have to overcome to get there is his health.Before last season, Dungey pledged to try to stay in the pocket more. In the second game of the season against Louisville, he tried hurdling a defender and got flipped over in the process. After the upset victory over Virginia Tech in mid-October, Babers’ said the offense needed Dungey’s running ability.AdvertisementThis is placeholder text“At certain times, we’re willing to put him at risk,” Babers said at the postgame press conference, pausing before saying risk. “I would love to play a game where our quarterback never has to run the ball. I’d love to play a game where our quarterback never gets touched. And I have played games like that. But right now, at this time … we have to be calculated and we need his legs in our offense.”Jessica Sheldon | Staff PhotographerThe SU offense was much more dynamic with Dungey running, especially because there wasn’t much production from the running backs. With two big receiving weapons next year, and a still-young offensive line, it appears Dungey’s legs will still need to be a crucial component of the SU attack.There are some positives. For the second straight year, Dungey bulked up in the offseason before spring ball. And last year, he more often slid and ran out of bounds to avoid hits than he did in 2015. He will need to continue to do that consistently.But he missed the end of each of the past two seasons after taking shots to the head. Should the hits keep piling up, Dungey’s career could be in jeopardy.He seems poised to play at a high level this season. Based on his past, though, it’s unclear if he’ll be available for all of it. Comments Published on July 28, 2017 at 10:23 am Contact Tomer: email@example.com | @tomer_langer Facebook Twitter Google+
London, United Kingdom | AFP | Jamaican sprint legend Usain Bolt labelled himself the underdog as he seeks to round off his glittering individual track career with the defence of his world 100m title this week.“That’s what I keep reading and what my team keeps telling me, so I’ve got to prove myself again,” the 30-year-old said in a warning shot to pretenders to his crown in the blue riband event of the IAAF World Championships.Bolt started this season in sluggish form, running two 10sec-plus times before finally hitting some form at the Monaco Diamond League.“The last race I ran was 9.95sec, which shows I’m going in the right direction,” he said.“It’s a championships and the two rounds always help me. I’ve been here many times. It’s go-time, so let’s go!”He added: “Usain Bolt has retired unbeaten in an individual event, unbeatable, unstoppable — for me that would be the best headline!“If I show up at a championships you know I’m fully confident and ready to go, and my coach, I’m ready to go.”Bolt refused to single out who would be his closest rival for the 100m, with heats on Friday before the semi-final and final on Saturday at the same stadium in east London where he won treble gold at the 2012 Olympics.“The seven people who are going to be in that race with me, they’re the biggest challengers,” he said.Bolt has dominated sprinting since taking double individual gold at the Beijing Olympics in 2008, going on to win a further six Olympic golds and also picking up 11 world titles.He also holds world records of 9.58 and 19.19sec in the 100 and 200m, both set when winning at the 2009 Berlin worlds.Bolt admitted that he hoped his records would last.“I want to brag to my kids when they’re 15, that I’m still the best,” he joked.– 200m in 2008 the best – Bolt parents give him-boots for final race.In a glitzy press conference organised by his long-term sponsors Puma and hosted by Welsh ex-hurdler Colin Jackson, Bolt picked out his then-world record breaking victory in the 200m at the Beijing Olympics in 2008 as the stand-out performance of his career.“It’s definitely Beijing (Olympics), the 200m, because I never knew I could break the world record,” he said.“That was my main dream growing up — I always wanted to be Olympic 200m champion. When I broke the record I didn’t know how to react.”And he insisted that motivation was not lacking despite having devoted his life to the track since the age of 10.“Every year you find something else to motivate you,” he said. “I love competition, I thrive on competition, and I want people to run fast to push me.“I’m comfortable saying I’m a legend because I’ve proved myself.“I didn’t know I would be 100m world record holder growing up, I had no idea.“Anything’s possible, you’ve just got to put it in your head and work for it. There are no words to explain what I’ve done over the years, and I’m really proud of myself.”Sprinting has been mired by doping over the years, and track and field’s governing body the IAAF has been on the back foot over widespread state-sponsored doping in Russia, whose athletes were barred from the Rio Olympics and will also miss London, although some have been cleared to compete as neutrals.But Bolt insisted the sport was on the right path.“You can’t be happy about doping, but we’re doing a better job and are catching up and if you cheat, you will get caught,” he said.“After the scandal on Russia, it doesn’t get any worse than that. It’s on its way back up now.“Hopefully, athletes will see what they need to do to make the sport go forward.”Share on: WhatsApp
Get rid of Federico Fazio – click the yellow arrow above, right, to see four other things Tottenham must do to push on in after January – Toby Alderweireld has established a good partnership with Jan Vertonghen in defence and Federico Fazio is now fourth choice centre-back, with Kevin Wimmer ahead of him. Fazio made many Spurs fans wince when he played against Arsenal in the League Cup defeat and the 28-year-old is likely to be sold if someone offers some good money. Get the best out of Nacer Chadli – Chadli appears to be playing within himself this season and Tottenham fans are not seeing him at his best. Last season he scored 11 Premier League goals, including vital ones against Chelsea and Arsenal. This season he has one goal but has not been helped by injuries. If Chadli doesn’t look like finding his feet this term, then another winger is likely to be on Pochettino’s shopping list. 5 5 Maintain the unity forged under Pochettino – click the yellow arrow above, right, to see four other things Tottenham must do to push on in after January – Team spirit appears to be good at Tottenham. Pochettino got rid of the troublesome Emmanuel Adebayor, but he is still having to lay down the law to some players. Andros Townsend was recently dropped from first-team duties for his public spat with coach Nathan Gardiner and that could see the winger either sent on loan or sold in January. A happy camp is crucial. 5 Buy a better back up goalkeeper? – Click the yellow arrow above, right, to see four other things Tottenham must do to push on in after January – Anyone filling in for the brilliant Hugo Lloris, has a lot to live up to. The France ace is one of the best goalkeepers in football and very popular among fans and for some at White Hart Lane, his understudy, Michel Vorm, makes them nervous when playing. His FA Cup howler saw Leicester progress in the FA Cup at Spurs’ expense last season, he let a Gareth Bale shot slip through his grasp in pre-season, while he recently palmed Alex Oxlade-Chamberlain’s shot into the path of Mathieu Flamini in the League Cup loss to Arsenal. Better back-up needed? Tottenham are in form at the moment, but supporters will not be getting carried away yet.The club have only lost once so far in the Premier League and some observers have tipped them to break into the top four and secure a return to the Champions League.FRIEDEL: SPURS HAVE A GREAT OPPORTUNITY TO END CHAMPIONS LEAGUE HUNTHere, talkSPORT looks at five things the club can do to push on after the January transfer window has closed/slammed shut.SUPER COMPUTER: FINAL LEAGUE TABLE PREDICTED 5 5 Back Pochettino in January – click the yellow arrow above, right, to see four other things Tottenham must do to push on in the New Year – Tottenham fans may not be getting carried away just yet, however, under manager Mauricio Pochettino the team has developed into a solid and consistent side. The White Hart Lane faithful have had to be patient, but it looks like there is a side capable of challenging for a Champions League spot. If the manager is backed in the January transfer window, an additional striker could be bought, so Spurs can fight in the cup competitions and not rely so much on Harry Kane to score in every game. Maybe that will help Spurs kill games, as Pochettino said they should have done when 1-0 up against Arsenal.