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

Fed Easing is No Longer a Central Theme for investors as Possible Fed Tightening Gains Attention

Perhaps it’s an old story today but investors have fully washed Fed easing from their thinking and have begun to incorporate the possibility of tightening late this year or early in 2027.  Inflation will not evaporate immediately, even if the Iran war is ended. Capital requirements for artificial intelligence growth will keep the cost of capital–AKA interest rates–high, and the federal deficit overhangs.   Do term investments have value at these levels? Depends on whether you believe Fed tightening is in the wings.

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Insights

Ya Wanna Bet? The Rising Place of Prediction Markets in Investing

Would you go to a betting parlor to invest?  Before you answer, consider: Betting on predictions and investing have a lot in common.   Investors regularly use the vernacular of betting to describe market activities. We make “bets” on relative value, the future direction of interest rates and the likelihood that an investment we make might […]

Why Five Percent Yield on the 30 Year Treasury is a Big Deal

The yield on the 30-year Treasury bond broke above five percent this week, and it’s kind of a big deal.  It’s not that five percent triggered some pre-set realignment in the financial markets, or that the level resulted in a quantum change in gains, losses or winning and losing positions as compared with those positions […]

Sometimes No News Is News

The numbers are staggering. Last year Treasury issued $30.5 trillion of securities to fund the national debt. That’s nearly $600 billion a week. This year, through April issuance was $10.8 trillion, 10% ahead of the 2025 pace. Most of this is to refund/rollover existing debt but some is for new debt that will be required […]

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