Bank Analysis School - September 2023

Internal Use Only

Bond Prices (Values) Move Opposite Interest Rates

Appreciation/Depreciation % of Bond Portfolio

4%

0% 3%

3%

-9% -6% -3%

2%

-13%

1%

10-Year Treasury Yield

-15% -12%

Internal Use Only

Securities Review – August 2022 Exam

Management invested heavily in long-term Municipal bonds in 2020 and 2021…