Recent Reads

The Surge in Bond Yields—Big Deal or Not?

By Marty Margolis on October 5, 2023

The recent surge in long term yields may signal a big change in the outlook for the US and global economies.

Countdown to Shutdown

By Marty Margolis on September 29, 2023

A Federal government shutdown heightens uncertainty; Moody's climbs on board, and more in this week's Beyond the News.

LGIP Investment Strategies Presume A Pace of Slow Monetary Policy Tightening

By Marty Margolis on September 21, 2023

Local government investment pools extended maturities in recent weeks, anticipating the shift in Federal Reserve monetary policy that reduced the pace of tightening after the sharp run-up in interest rates over the past 18 months. Pool portfolios moved from very short weighted average maturities (WAMs) in the spring and are now positioned for limited moves higher in interest rates in the near term. Meanwhile pool yields have risen to fully reflect current market conditions.

Public Sector investment Assets: Stability and Liquidity Prevail

By Marty Margolis on September 12, 2023

Investment assets of state and local governments have grown slowly in recent quarters despite a sharp rise in interest rates that adds income to portfolios at the highest rate in more than a decade. A Federal Reserve report, released last week, showed public sector investment assets at $3.7 trillion, almost unchanged from the level reported for March 31...

Federal Home Loan Banks Under Review

By Marty Margolis on September 5, 2023

A Federal review of the Federal Home Loan Banks is coming up; also new bank capital rules; and a government shutdown?

LGIP Trends: Higher Yields, Plateauing Assets, a Bit More Risk

By Marty Margolis on August 28, 2023

Moderating asset growth, higher yields, and a move to a somewhat less defensive market risk position sum up local government investment pool fundamentals in the second quarter.

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Key metrics and trends in the public funds investment market.