The Jobs Number
I generally try to write about matters that are particularly relevant to public funds investors but this piece is more...
What to Do When the Fed Moves
The Federal Reserve is on the cusp of lowering short-term interest rates. Softening labor markets, inflation that has not (yet?)...
An Update on Privatizing Fannie and Freddie
There is nothing like a Trump Truth Social post to grab attention. That was the result when an AI generated...
Waking Up to Lower Rates
Last week was supposed to be a big one for the financial markets, though perhaps not quite the way...
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
The Fed: How low? How Fast?
Next Week’s Federal Open Market Committee meeting may contain some surprises but one thing is clear: the markets believe the central bank will re-start it’s easing program, targeting a 3% overnight rate in coming months. At least that is the message from the recent move down in short-term Treasury yields.
The one year Treasury bill yield ended last week at 3.65% and the yield on the two year Treasury note ended at 3.51%. Both were down by more than 40 basis points when compared with levels just prior to the July Fed meeting.
Without embarking on fancy calculations, it should be obvious that the current levels imply the Fed’s overnight rate will be around 3% a year from now and will then remain at about that level at least for the following year.
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The Jobs Number
What to Do When the Fed Moves
An Update on Privatizing Fannie and Freddie
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