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

Manufacturing Employment Has Yet to Show a Boost from Either Biden's Industrial Policy or Trump's Make America Great Effort

Both Biden’s industrial policy and Trump’s Make America Great effort promised a surge in manufacturing jobs.   The results remain elusive.  Manufacturing employment declined by 8,000 in May and 88,000 in the last 12 months, while overall  private sector employment expanded by 1.8 million in the 12 month period. The recent peak in manufacturing jobs was in the first quarter of 2023.

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Insights

Repo: An Under-Appreciated Asset*

Repo—repurchase agreements if you will—is both simple and complex. Simple because once documentation is in place it’s quite easy to place a trade using a secure message, a trading platform or even—heaven forbid— a phone call.  We used to joke that it was as simple as pushing the repo button.  But the complexity is around […]

If Not Treasuries, Then What?

The downgrade by Moody’s of the credit of the United States has some folks thinking about whether to continue to invest in Treasuries. If you are a public funds treasurer the answer seems pretty simple, though the reasoning may be a bit complex/convoluted. For one thing, for most public agencies investment authority is limited to […]

Does it Matter? Moody’s Rating Downgrade of U.S. Sovereign Debt.

Moody’s Ratings’ downgrade  of the credit of the United States on May 16 is not a major market moving event. Rather it is a sign along the path we are on, a path of rising sovereign debt loads and ineffective efforts either to control the growth or pay the cost of government. The seeds of […]

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