State and Local Government Investment Assets Show Growth Despite Economic and Fiscal Uncertainty
State and local government investment assets grew by $110 billion, to $4.1 trillion in the second quarter of 2025, a...
Why the Yield on the 10-Year Treasury Matters
There are several reasons to keep a close eye on the yield of the 10-year Treasury note even though investing...
Cliff Notes on the Upcoming Federal Open Market Committee Meeting
Next week’s meeting of the Federal Open Market Committee is almost certain to set short-term interest rates firmly on the...
The Jobs Number
I generally try to write about matters that are particularly relevant to public funds investors but this piece is more...
Dashboard
Yield and portfolio information to help public funds investment officials manage portfolios, monitor markets and benchmark portfolio performance of local government investment pools (LGIPs) and short term portfolios.
Money Market Yields
LGIP Yields Plummeted Since the Fed Cut Rates but Other Rates? Not So Much
LGIP and money fund rates have plummeted since the Federal Reserve cut its policy rate by 25 basis points. By the end of last week about 2/3 of the rate cut had made its way into LGIP yields. The balance will likely appear in coming weeks. As to the rest of the short-term markets? Despite a drumbeat for further cuts at each of the next two Federal Open Market Committee meetings, the markets are skeptical. The two-year Treasury yield has risen in the past two weeks. And the futures trading showed the April 2026 federal funds level at 3.43% at the end of last week, up 13 basis points in two weeks.
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Insights
State and Local Government Investment Assets Show Growth Despite Economic and Fiscal Uncertainty
Why the Yield on the 10-Year Treasury Matters
Cliff Notes on the Upcoming Federal Open Market Committee Meeting
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