Economic Commentary Highlights...

• We believe the U.S. economic backdrop does not support a sustained uptick in inflation anytime soon.
• However, food and energy prices may begin to push overall inflation readings modestly higher
  over the next few months.
• Our review of the Federal Reserve’s (Fed) Beige Book suggests that the typical preconditions for inflation do not appear to be currently in place.

View the entire economic commentary (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Economic Commentary for the week of September 24, 2012. 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. http://www.mylsb.com/


Securities and Insurance products offered through LPL Financial and its affiliates, member FINRA / SIPC. Not FDIC Insured, No Bank Guarantee, May Lose Value Not a Deposit, Not Insured by any Federal Government Agency


Lincoln Savings Bank and LSB Financial are not registered broker/dealers, nor are they affiliated with LPL Financial. This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. Investment Representatives. LPL Financials U.S. Investment Representatives may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

Economic Commentary Highlights...

• Here in 2012, food and energy inflation is less of a concern for consumers.

• Rapidly rising consumer food prices in 2011 were largely due to a surge in prices for agricultural commodities in late 2010. That surge has dissipated, and food inflation is decelerating rapidly.

• Consumer energy prices surged in early 2011, as the “Arab Spring” pushed up oil prices.
  Most geopolitical tensions have eased in 2012. Gasoline prices are under $4 per gallon.

View the entire economic commentary (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Economic Commentary for the week of May 21, 2012. 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

Securities and Insurance products offered through LPL Financial and its affiliates, member FINRA / SIPC.

Not FDIC Insured	No Bank Guarantee	May Lose Value
Not a Deposit	Not Insured by any Federal Government Agency

Lincoln Savings Bank and LSB Financial are not registered broker/dealers, nor are they affiliated with LPL Financial. This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. Investment Representatives. LPL Financials U.S. Investment Representatives may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

Economic Commentary Highlights...

• This week’s Federal Open Market Committee (FOMC) forecasts will likely show stronger
  Gross Domestic Product (GDP) growth for 2012 and a slightly lower (better) unemployment rate forecast.

• The inflation forecast is likely to be little changed.

• The fate of Operation Twist is still a question.

View the entire economic commentary (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Economic Commentary for the week of April 23, 2012. 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

Securities and Insurance products offered through LPL Financial and its affiliates, member FINRA / SIPC.

Not FDIC Insured	No Bank Guarantee	May Lose Value
Not a Deposit	Not Insured by any Federal Government Agency

Lincoln Savings Bank and LSB Financial are not registered broker/dealers, nor are they affiliated with LPL Financial. This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. Investment Representatives. LPL Financials U.S. Investment Representatives may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

Economic Commentary Highlights...

• Data on inflation, the consumer and the manufacturing sector in the United States all will compete for attention this week with the start of the Q2 2011 earnings reporting season.
  


• Fed Chairman Bernanke will be on the hot seat in Congress this week.
  


• June Jobs Report Jolts Markets.

View the entire economic Commentary (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Economic Commentary for the week of June 27, 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. http://www.mylsb.com/

Market Commentary Highlights...

The turmoil and change in leadership in Egypt meant little for most stock, bond, and commodity markets. However, Egypt provided an example of the unrest that can be fueled by rising food prices.

What seemed to be a world locked into one unified global business cycle a year ago is becoming more and more decoupled as each market classified by type, size, country, and sector show differing reactions to the return of inflation and the rise in interest rates.

The theme of reflation is becoming a dominant one for 2011 and may in fact be the true revolution taking place for investors as it defines the performance of all markets so far this year. We expect reflation to remain a key theme for all of 2011.

Read the entire Market Commentary. (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Market Commentary for the week of February 14, 2011. The commentary is prepared by LPL FINANCIAL RESEARCH, the broker-dealer partner for Lincoln Savings Bank and LSB Financial. This 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

Economic Commentary Highlights...

• Economics, policy, and politics will fight for room in the headlines this week, as the long awaited First Week in November finally unfolds.
• Some observers think QE2 will allow inflation expectations to become unhinged. In our view, the risk of deflation outweighs the risk of inflation by a wide margin.
• The third quarter GDP data argued against the so-called “double-dip” recession camp, as the modest gain in real GDP marked the fifth consecutive quarterly gain in GDP since the end of Q2 2009.

View the entire economic commentary. (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Economic Commentary for the week of November 1, 2010. 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

Market Commentary Highlights...

The “currency war” is unlikely to end anytime soon. It will take evidence of significantly stronger growth or a rise in inflation and interest rates to put an end to quantitative easing in the United States.

The most likely outcomes of the currency war include more monetary stimulus around the world and increasing measures by emerging market countries to close their doors to inflows of capital.

Emerging markets benefit from the greater global demand created by stimulative monetary policy, the rising value of their commodity-based exports, and the appreciation of their currency boosts dollar-based investment returns.

Read the entire Market Commentary. (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Market Commentary for the week of October 25, 2010. The commentary is prepared by LPL FINANCIAL RESEARCH, the broker-dealer partner for Lincoln Savings Bank and LSB Financial. This 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

Market Commentary Highlights...

In a surprisingly transparent statement made last week, the Fed told us that inflation is so low
they are not doing enough to promote growth. To combat fears of a downward spiral of deflation
the Fed is preparing a reflation strategy.

Reflation beneficiaries include precious metals, commodities, commodity-sensitive stocks,
Emerging Markets, real estate, and Treasuries.

Reflation acts as a negative for the dollar and the Financial sector.

Read the entire Market Commentary. (pdf format)

Lincoln Savings Bank and LSB Financial are pleased to provide the above Market Commentary for the week of September 27, 2010. The commentary is prepared by LPL FINANCIAL RESEARCH, the broker-dealer partner for Lincoln Savings Bank and LSB Financial. This 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. http://www.mylsb.com/