Market Commentary Highlights...

• Investors may not need to worry about the impact of a recession since it already appears to be fully priced in to both stocks and bonds.

• This is not unusual. Historically, the stock market has often bottomed before the recession was even declared. And, importantly, there have been times when the stock market fell and priced in a recession that did not take place, such as the bear markets of 1987 and 1998.

• Based on our analysis of past earnings cycles, a recession level for the S&P 500 Index is about 1120, which is exactly where the Index bottomed out three times during the month of August.

View the entire economic Commentary (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Market Commentary for the week of September 6, 2011. The commentary is prepared by LPL FINANCIAL RESEARCH, the broker-dealer partner for Lincoln Savings Bank and LSB Financial. The above commentary and others like it can be found at www.mylsb.com/investments/commentary.aspx

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This information is being provided by Lincoln Savings Bank (LSB) / LSB Financial, an Iowa-based institution devoted to providing complete financial services since 1902. www.mylsb.com

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