Balance Sheet Insights Quarterly ALM Considerations

Piper Sandler reviews Q4 2025 ALM considerations, highlighting the Fed's 50bps of rate cuts and the yield curve's move to a marginally positive slope after three years of inversion.

Key Takeaways

• 1.The Federal Reserve cut rates by 25bps in both October and December 2025, following a previous cut in September.
• 2.The yield curve (Fed Funds to five years) has transitioned from a three-year inversion to a marginally positive slope.
• 3.Expectations for future rate cuts have moderated due to persistent inflation, employment data, and fiscal policy uncertainty.

Table of Contents

• Quarterly ALM Considerations – Q4 2025
• CONTACTS
• DISCLAIMER

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