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

Tracking the Fed: Markets Have Raised the Odds of a Rate Cut

Last week marked a change in direction for market sentiment around the likelihood that the Federal Open Market Committee would cut rates by 25 basis points at its upcoming December meeting.  Behind the change:  a number of Fed governors and regional
presidents weighed in with public statements that were generally bullish, a delayed release of the September Bureau of Labor statistics employment report that suggested the labor market was continuing to weaken, and increased volatility in equity and credit markets. 
Stay tuned. . . .

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Insights

Cracks Are Appearing in the Credit Markets

Cracks are appearing in the credit markets and public funds investors should amp up risk management efforts or avoid the risks that could upend portfolio strategies at a time when economic uncertainty, falling short term interest rates and disruption to historic government funding could stress state and local government budgets. There are two stories here: […]

2024 LGIP Survey: LGIPs Hold Nearly $1 Trillion of Public Funds

Our annual survey of local government investment pools is out.  This year we expanded our survey to include local sponsored LGIPs. In total we identified 161 portfolios. They operate in all but seven states. The survey is the only comprehensive look  at the LGIP industry which invests assets for thousands of public units across the […]

Bank CDs: Available for Investment, But is There Value?

States and localities have long invested in bank certificates of deposit because they are familiar, easy to acquire and may be viewed as serving the community. In most cases the issuing bank must collateralize the deposit, so CDs are viewed as having low risk. But changes in the bank business model may have made this […]

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