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 Remain Insulated From Recent Market Volatility

Here’s another chart to illustrate the shelter that local government investment pool yields offer from the Iran war-induced market volatility.   We’ve seen pool yields move by only a couple of basis points since the war began.  Their yields have a close linkage to the Federal Reserve’s main policy rate and this has not budged even one basis point since December.  Of course all of that could change in a  flash if/when the Fed changes to its monetary policy. 

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Insights

Kevin Warsh: Behind the Senate Testimony of the Federal Reserve Nominee

Beyond the sound bites from this week’s Senate Banking Committee hearing on the nomination of Kevin Warsh to chair the Federal Reserve are three issues that are much more important for the markets and economy than whether President Trump or his political adversaries “win” or “lose” this latest contest of political will. They are shrouded […]

Solid Growth of Investment Assets in 2025 Helped Support State and Local Government Budgets

State and local government investment assets grew at a strong pace in 2025, extending a trend that goes back to the pre-covid era.  Data released by the Federal Reserve last month showed investment assets ended last year at $4.05 trillion, up from $3.8 trillion in 2024. The five percent growth rate was ahead of the […]

First Quarter Investment Returns: Lessons Learned

It was not supposed to be this way. At the start of 2026, many investors were looking forward to declining short-term rates, with the Federal Reserve continuing to cut the federal funds rate to three percent by year-end. Some prominent economists forecast rates with a two percent handle by December. Longer-maturity investments, including two-year Treasuries […]

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