Yield Enhancer or Gimmick? Callable Securities Present Risk and Reward By Jim Reber, President and CEO, ICBA Securities MIBA Endorsed Vendor Most representatives of the broker‑dealer industry have been suggesting to their customers, especially community banks, that their collection of bonds could be situated to perform pretty well in 2025. You can be forgiven for rolling your eyes if you’ve heard this. And I get it: Persistently stubborn inflation forced the Federal Reserve to hike rates and now to keep them elevated for the foreseeable future. This, of course, has kept the market values of your portfolio depressed for going on three years now. 24 | The Show-Me Banker Magazine
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