On Monday we welcomed Erik Clapsaddle CFA, CFP®; Senior Fixed Income Portfolio Manager l Vice President; Wealth Advisory Services | Investment Management Group of 1st Source Bank. Erik joined 1st Source in 2015 after working with Comerica in Detroit as a Senior Fixed Income Analyst & Strategist for seven years, and prior as a Closely-Held Investment Analyst for two years. He worked as a manager of fixed income analytics and worked closely with the capital markets and investment banking businesses. His work has focused on credit analytics, valuation, interest rate strategies, and macro strategy. Erik has developed and implemented tailored portfolio asset allocation strategies, which were focused on fixed income, for a wide array of clients with a large range of financial instruments. Erik is active coaching local youth sports teams. He earned a B.S. in Marketing with Minors in Finance and Music Industry from York College of Pennsylvania.
Erik presented an Economic and Rates Outlook, highlighting:
- The Federal Funds Target Rate “forecast”
- Job Openings Still (barely) Exceed Total Unemployed
- A discussion of our aging population
- The Quits Rate: Has it Stabilized, is it at the bottom?
- Inflation and its drivers
- Manufacturing and Manufacturing jobs
- The sharp increase in consumer debt vs. personal savings since the pandemic - we're headed the wrong direction!
- Confidence in our economy: The Consumer vs. Small Business
- And a look at What’s Driving Equity Returns - - sure, the S&P is up, BUT what's making it appear that way?
Here are a few snapshots of Erik's presentation, key figures and stats to consider:
To learn more, scan the QR code or visit the website below!
October 24 is World Polio Day; “Pints for Polio” scheduled by Mandy Leazenby at Westwind Brewery, in lieu of our regular Thirsty (Third) Thursday; A portion of sales will be generously donated to Rotary Polio efforts by Westwind Brewery. Join us Thursday, October 24 between 4-7 p.m. at Westwind Brewery Co in Elkhart for some great beer, food, and fun, all supporting polio eradication around our world.
Spirit of Wellfield Award Presentation
The Spirit of Wellfield Award is given annually by Wellfield Botanic Gardens to an individual, couple, or organization. Winners of the award exemplify the mission of Wellfield Botanic Gardens, including celebrating the inseparable relationship between water and life, inspiring creativity and lifelong learning, fostering stewardship of our natural world, and growing community. Award recipients share the values of Wellfield Botanic Gardens and contribute to the growth and vibrancy of Wellfield Botanic Gardens, furthering its mission through their continued support, resources, and/or volunteerism—and they inspire others to do the same! Past winners include:
- 2023—Marly Rydson and in memory of Laura Rydson
- 2022—The Rex and Alice A. Martin Foundation; Rex Martin, Alice Martin, Ashley Martin, Alexis Martin
- 2021—(two awards this year to make up for 2020) Stuart & Paula Barb / Scott & Kim Welch
- 2019—Doug Grant (Inaugural award)
This year’s winner personifies the Spirit of Wellfield… The five members of the Elkhart Rotary Club Steering Committee created in 2002 to research the viability of and plan an incredible Rotary International Centennial Celebration Project: Wellfield Botanic Gardens. The members of that committee were Eric Amt, Stuart Barb, John Goebel, Chuck Grodnik (chaired the committee), and Tom Pletcher. Wellfield Robert and Peggy Weed Executive Director Eric Garton presented the award and remarks were made by Chuck Grodnik. Stu Barb (visiting Santa Fe, NM) and John Goebel (who now resides in Tennessee) attended the presentation virtually via Zoom, Congratulations to Eric, Stu, John, Chuck, and Tom - - and CONGRATULATIONS to the Elkhart Rotary Club for creating a world-class Rotary International Centennial Celebration Project that will live on in Wellfield Botanic Gardens for the citizens of Elkhart and beyond.