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	<title>The Principal Blog</title>
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	<link>http://blog.principal.com</link>
	<description>Investment management insights and commentary</description>
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		<title>For a Limited Time Only—No, Really</title>
		<link>http://blog.principal.com/2013/05/22/for-a-limited-time-only-no-really/</link>
		<comments>http://blog.principal.com/2013/05/22/for-a-limited-time-only-no-really/#comments</comments>
		<pubDate>Wed, 22 May 2013 18:00:29 +0000</pubDate>
		<dc:creator>Kevin Morris, Head of Marketing</dc:creator>
				<category><![CDATA[Portfolio Management]]></category>
		<category><![CDATA[Retail Investor]]></category>
		<category><![CDATA[Basel-3]]></category>
		<category><![CDATA[Dodd-Frank Act]]></category>
		<category><![CDATA[Kevin Morris]]></category>
		<category><![CDATA[Preferred Securities]]></category>

		<guid isPermaLink="false">http://blog.principal.com/?p=2663</guid>
		<description><![CDATA[What would eventually come to be called preferred securities have been around since at least the early 1800s. Known then as preference shares, they were issued to help finance capital-intensive projects such as railways and other infrastructure. Investors wanted a preferential structure that assured they were compensated before any payments were made to common stock [...]]]></description>
		<wfw:commentRss>http://blog.principal.com/2013/05/22/for-a-limited-time-only-no-really/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<item>
		<title>Bank Loans Are Good, but Don’t Expect Miracles</title>
		<link>http://blog.principal.com/2013/05/22/bank-loans-are-good-but-dont-expect-miracles/</link>
		<comments>http://blog.principal.com/2013/05/22/bank-loans-are-good-but-dont-expect-miracles/#comments</comments>
		<pubDate>Wed, 22 May 2013 07:02:46 +0000</pubDate>
		<dc:creator>Mark Cernicky, Senior Product Specialist, Principal Global Fixed Income</dc:creator>
				<category><![CDATA[Economic Insights]]></category>
		<category><![CDATA[Fixed Income]]></category>
		<category><![CDATA[bank loans]]></category>
		<category><![CDATA[high yield]]></category>
		<category><![CDATA[Principal Global Fixed Income]]></category>
		<category><![CDATA[principal global investors]]></category>

		<guid isPermaLink="false">http://blog.principal.com/?p=2647</guid>
		<description><![CDATA[There’s a lot of money flowing into bank loans. As of May 17th, bank loan funds have had 48 consecutive weeks of inflows; year-to-date inflows have totaled a record US$24 billion. Compare that with year-to-date inflows of US$2.6 billion for high yield bonds.  In fact, over the past 16 weeks, bank loan funds have averaged [...]]]></description>
		<wfw:commentRss>http://blog.principal.com/2013/05/22/bank-loans-are-good-but-dont-expect-miracles/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<item>
		<title>Illustrations Reduce Missed Opportunities for Retirement Security</title>
		<link>http://blog.principal.com/2013/05/21/illustrations-reduce-missed-opportunities-for-retirement-security/</link>
		<comments>http://blog.principal.com/2013/05/21/illustrations-reduce-missed-opportunities-for-retirement-security/#comments</comments>
		<pubDate>Tue, 21 May 2013 16:30:45 +0000</pubDate>
		<dc:creator>Andrew F. Miller, Director-Retirement Services, the Principal Financial Group, Princor Registered Representative</dc:creator>
				<category><![CDATA[Legislation & Regulation]]></category>
		<category><![CDATA[Retirement]]></category>
		<category><![CDATA[401(k)]]></category>
		<category><![CDATA[DOL]]></category>
		<category><![CDATA[legislation]]></category>
		<category><![CDATA[Lifetime Income]]></category>
		<category><![CDATA[Regulation]]></category>
		<category><![CDATA[Retirement Plan Statements]]></category>
		<category><![CDATA[Retirement Savings]]></category>
		<category><![CDATA[Retirement Security]]></category>

		<guid isPermaLink="false">http://blog.principal.com/?p=2637</guid>
		<description><![CDATA[If you’ve attended a Little League baseball game recently, you’ve probably experienced the frustration of watching a young batter watch a perfectly good strike go by and then take a wild swing at a pitch that hits the dirt before it hits the plate. You may find yourself saying under your breath, “Coulda hit that [...]]]></description>
		<wfw:commentRss>http://blog.principal.com/2013/05/21/illustrations-reduce-missed-opportunities-for-retirement-security/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<title>Countdown to Carney at the Bank of England</title>
		<link>http://blog.principal.com/2013/05/21/countdown-to-carney-at-the-bank-of-england/</link>
		<comments>http://blog.principal.com/2013/05/21/countdown-to-carney-at-the-bank-of-england/#comments</comments>
		<pubDate>Tue, 21 May 2013 09:00:59 +0000</pubDate>
		<dc:creator>Seema Shah, Strategist, Principal Global Fixed Income</dc:creator>
				<category><![CDATA[Economic Insights]]></category>
		<category><![CDATA[Fixed Income]]></category>
		<category><![CDATA[bank of england]]></category>
		<category><![CDATA[Britain]]></category>
		<category><![CDATA[England]]></category>
		<category><![CDATA[Mark Carney]]></category>
		<category><![CDATA[monetary policy]]></category>
		<category><![CDATA[quantitative easing]]></category>
		<category><![CDATA[UK]]></category>

		<guid isPermaLink="false">http://blog.principal.com/?p=2583</guid>
		<description><![CDATA[Britain’s reigning monarch, Queen Elizabeth II, has graced the obverse (that’s coin-and-currency aficionado jargon for “front”) of the Canadian $20 banknote since 1954. Now, 59 years later, a Canadian is getting the opportunity to influence British money…well, monetary policy, at least. On July 1, Mark Carney, a Canadian and the outgoing head of Canada’s central [...]]]></description>
		<wfw:commentRss>http://blog.principal.com/2013/05/21/countdown-to-carney-at-the-bank-of-england/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
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		<title>Das Ist Gut, oder Eher, Das Ist Nicht Sehr Schlecht – Economic Improvement from Germany</title>
		<link>http://blog.principal.com/2013/05/16/das-ist-gut-oder-eher-das-ist-nicht-sehr-schlecht-economic-improvement-from-germany/</link>
		<comments>http://blog.principal.com/2013/05/16/das-ist-gut-oder-eher-das-ist-nicht-sehr-schlecht-economic-improvement-from-germany/#comments</comments>
		<pubDate>Thu, 16 May 2013 19:07:49 +0000</pubDate>
		<dc:creator>Bob Baur, Chief Global Economist, Principal Global Investors</dc:creator>
				<category><![CDATA[Economic Insights]]></category>
		<category><![CDATA[European Central Bank]]></category>
		<category><![CDATA[GDP]]></category>
		<category><![CDATA[Germany]]></category>
		<category><![CDATA[Wolfgang Schauble]]></category>

		<guid isPermaLink="false">http://blog.principal.com/?p=2575</guid>
		<description><![CDATA[Growth is good. So, even at a revised 0.1%, German GDP growth could still be considered good. Sure, it wasn’t as much as economists had forecasted, but growth still beats recession – especially, after several months where the economic malaise in the Eurozone threatened to turn into a Teutonic Plague as well. The actual German [...]]]></description>
		<wfw:commentRss>http://blog.principal.com/2013/05/16/das-ist-gut-oder-eher-das-ist-nicht-sehr-schlecht-economic-improvement-from-germany/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<enclosure url="http://blog.principal.com/wp-content/uploads/2012/09/bob-baur1.jpg" length="8060" type="image/jpg" /><media:content url="http://blog.principal.com/wp-content/uploads/2012/09/bob-baur1.jpg" width="95" height="99" medium="image" type="image/jpeg" />	</item>
		<item>
		<title>Assume nothing, ask everything.</title>
		<link>http://blog.principal.com/2013/05/16/assume-nothing-ask-everything/</link>
		<comments>http://blog.principal.com/2013/05/16/assume-nothing-ask-everything/#comments</comments>
		<pubDate>Thu, 16 May 2013 17:00:53 +0000</pubDate>
		<dc:creator>Ryan Schutty, Regional Marketing Director, the Principal Financial Group, Princor Registered Representative</dc:creator>
				<category><![CDATA[Advisor]]></category>
		<category><![CDATA[Retirement]]></category>
		<category><![CDATA[Assumptions]]></category>
		<category><![CDATA[Client Relationships]]></category>
		<category><![CDATA[Create]]></category>
		<category><![CDATA[Listening]]></category>
		<category><![CDATA[practice management]]></category>

		<guid isPermaLink="false">http://blog.principal.com/?p=2555</guid>
		<description><![CDATA[For a while now, I’ve helped advisors and financial professionals develop their “story,” or their value proposition, and then helped them incorporate it into a marketing plan and their everyday practice. It’s a privilege listening to someone’s story and I really enjoy doing it – absorbing a heap of information, understanding the challenges, and then [...]]]></description>
		<wfw:commentRss>http://blog.principal.com/2013/05/16/assume-nothing-ask-everything/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<enclosure url="http://blog.principal.com/wp-content/uploads/2013/05/ryan-schutty-e1367855640347.jpg" length="3412" type="image/jpg" /><media:content url="http://blog.principal.com/wp-content/uploads/2013/05/ryan-schutty-e1367855640347.jpg" width="100" height="140" medium="image" type="image/jpeg" />	</item>
		<item>
		<title>From the Desk of Risk: Demand for Downside Protection Falls off a Cliff</title>
		<link>http://blog.principal.com/2013/05/16/from-the-desk-of-risk-demand-for-downside-protection-falls-off-a-cliff/</link>
		<comments>http://blog.principal.com/2013/05/16/from-the-desk-of-risk-demand-for-downside-protection-falls-off-a-cliff/#comments</comments>
		<pubDate>Thu, 16 May 2013 14:10:48 +0000</pubDate>
		<dc:creator>Derek White, Head of Risk Management, Principal Global Fixed Income</dc:creator>
				<category><![CDATA[Economic Insights]]></category>
		<category><![CDATA[Fixed Income]]></category>
		<category><![CDATA[CSFB index]]></category>
		<category><![CDATA[Downside Protection]]></category>
		<category><![CDATA[fear barometer]]></category>

		<guid isPermaLink="false">http://blog.principal.com/?p=2588</guid>
		<description><![CDATA[Equities are at an all-time high and the demand for protection of downside risk has collapsed. The Credit Suisse Fear Barometer (CSFB) is a measure of the protection that can be purchased through 3-month put options by selling 10% out-of-the-money (OTM) 3-month call options.  For example, if put options and call options were equally priced [...]]]></description>
		<wfw:commentRss>http://blog.principal.com/2013/05/16/from-the-desk-of-risk-demand-for-downside-protection-falls-off-a-cliff/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<enclosure url="http://blog.principal.com/wp-content/uploads/2013/04/white-derek_web.jpg" length="20180" type="image/jpg" /><media:content url="http://blog.principal.com/wp-content/uploads/2013/04/white-derek_web.jpg" width="99" height="104" medium="image" type="image/jpeg" />	</item>
		<item>
		<title>Coming to Your Emotional Rescue</title>
		<link>http://blog.principal.com/2013/05/14/coming-to-your-emotional-rescue/</link>
		<comments>http://blog.principal.com/2013/05/14/coming-to-your-emotional-rescue/#comments</comments>
		<pubDate>Tue, 14 May 2013 18:00:35 +0000</pubDate>
		<dc:creator>Scott Ruba, Director – Defined Benefit Retirement Plans, the Principal Financial Group, Princor Registered Representative</dc:creator>
				<category><![CDATA[Defined Benefit]]></category>
		<category><![CDATA[Retirement]]></category>
		<category><![CDATA[assets]]></category>
		<category><![CDATA[DAA]]></category>
		<category><![CDATA[DB]]></category>
		<category><![CDATA[Dynamic Asset Allocation]]></category>
		<category><![CDATA[Frozen]]></category>
		<category><![CDATA[funding status]]></category>
		<category><![CDATA[glide path]]></category>
		<category><![CDATA[Hard Frozen]]></category>
		<category><![CDATA[interest rates]]></category>
		<category><![CDATA[Investment]]></category>
		<category><![CDATA[LDI]]></category>
		<category><![CDATA[liabilities]]></category>
		<category><![CDATA[Liability-driven investing]]></category>
		<category><![CDATA[plan sponsor]]></category>
		<category><![CDATA[Risk Management]]></category>
		<category><![CDATA[Scott Ruba]]></category>
		<category><![CDATA[Strategy]]></category>
		<category><![CDATA[Termination]]></category>

		<guid isPermaLink="false">http://blog.principal.com/?p=1958</guid>
		<description><![CDATA[I know what you’re thinking. First Kenny Rogers and now the Rolling Stones? Why does this guy keep quoting 1980s songs and relating them to defined benefit (DB) plans?   Well, there were two things I did during my summer nights as a teenager growing up in the ’80s that left a lifelong impact on [...]]]></description>
		<wfw:commentRss>http://blog.principal.com/2013/05/14/coming-to-your-emotional-rescue/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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		<item>
		<title>The Top 10 of ESOPs</title>
		<link>http://blog.principal.com/2013/05/13/the-top-10-of-esops/</link>
		<comments>http://blog.principal.com/2013/05/13/the-top-10-of-esops/#comments</comments>
		<pubDate>Mon, 13 May 2013 13:33:34 +0000</pubDate>
		<dc:creator>Jerry Ripperger, Director-Consulting, the Principal Financial Group, Princor Registered Representative</dc:creator>
				<category><![CDATA[ESOP]]></category>
		<category><![CDATA[ACCOUNTANCY]]></category>
		<category><![CDATA[DAVID LETTERMAN]]></category>
		<category><![CDATA[DES MOINES IOWA]]></category>
		<category><![CDATA[employee benefit program]]></category>
		<category><![CDATA[employee ownership]]></category>
		<category><![CDATA[Employee Stock Ownership Plan]]></category>
		<category><![CDATA[Employee Stock Ownership Plans]]></category>
		<category><![CDATA[ESOP exit option]]></category>
		<category><![CDATA[ESOP tax incentives]]></category>
		<category><![CDATA[ESOPs]]></category>
		<category><![CDATA[ESOPs for S Corps]]></category>
		<category><![CDATA[exit planning option]]></category>
		<category><![CDATA[exit planning vehicle]]></category>
		<category><![CDATA[GOOGLE]]></category>
		<category><![CDATA[INTERNAL REVENUE CODE]]></category>
		<category><![CDATA[Principal Financial Group]]></category>
		<category><![CDATA[qualified retirement plan]]></category>
		<category><![CDATA[transition planning]]></category>
		<category><![CDATA[transition planning option]]></category>
		<category><![CDATA[TWITTER]]></category>

		<guid isPermaLink="false">http://principalblogtest.com/?p=2426</guid>
		<description><![CDATA[Let’s face it, Americans love top 10 lists.  David Letterman includes one in every episode of the show, and if you Google top 10 lists you will find an array of results that range from the predictable to the just plain strange. A recent search result included: 10 absurd trademark claims 10 video game characters [...]]]></description>
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		<slash:comments>0</slash:comments>
	<enclosure url="http://blog.principal.com/wp-content/uploads/2012/08/jerry-ripperger.jpg" length="11188" type="image/jpg" /><media:content url="http://blog.principal.com/wp-content/uploads/2012/08/jerry-ripperger.jpg" width="94" height="99" medium="image" type="image/jpeg" />	</item>
		<item>
		<title>Engineering the Volatility Out of the Market</title>
		<link>http://blog.principal.com/2013/05/10/engineering-the-volatility-out-of-the-market/</link>
		<comments>http://blog.principal.com/2013/05/10/engineering-the-volatility-out-of-the-market/#comments</comments>
		<pubDate>Fri, 10 May 2013 21:00:31 +0000</pubDate>
		<dc:creator>Mark Cernicky, Senior Product Specialist, Principal Global Fixed Income</dc:creator>
				<category><![CDATA[Economic Insights]]></category>
		<category><![CDATA[Fixed Income]]></category>
		<category><![CDATA[beta]]></category>
		<category><![CDATA[fixed income]]></category>
		<category><![CDATA[Principal Global Fixed Income]]></category>
		<category><![CDATA[principal global investors]]></category>
		<category><![CDATA[QE3]]></category>
		<category><![CDATA[volatility]]></category>

		<guid isPermaLink="false">http://blog.principal.com/?p=2535</guid>
		<description><![CDATA[What’s one of the most noticeable consequences of the Fed’s third round of quantitative easing (i.e. QE3)? It’s the stark drop in fixed income volatility. Look at the chart below, which demonstrates this point for the investment grade credit market. The blue line is the rolling 21-day realized total-return volatility for a Barclays Global Investment [...]]]></description>
		<wfw:commentRss>http://blog.principal.com/2013/05/10/engineering-the-volatility-out-of-the-market/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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