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

Whatever it Takes. The Warsh FOMC

Kevin Warsh’s news conference at the conclusion of the Federal Open Market Committee meeting on Wednesday revealed two things: Warsh may say he’s abandoned the Fed’s “forward guidance” approach to monetary policy but in reality, he seems to have doubled down on the application of words, rather than actions, to steer the economy. Rather than […]

Is Crypto in Your Future?

Crypto was a hot topic at spring and annual conferences of many government associations as industry advocates swarmed to gain attention and government officials sought to understand if/whether/how crypto might be implemented in their organizations. The buzz is long on promise and concept but short on real experience. Crypto assets are barely a rounding amount […]

Decoding Kevin Warsh

Twice a year the chair of the Federal Reserve testifies before Congress on monetary policy. It’s a requirement that stems from 1978 legislation that provides accountability and oversight of the independent central bank. This week’s sessions provided some insights into principal elements of monetary policy that are not ordinarily in the rate-setting headlines that monopolize […]

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