In the News
- The Next FOMC Meeting is September 20, 2023 with an 90.5% probability of no rate movement and 9.5% chance of a 25 basis point rate hike, according to CME Group’s FedWatch Tool.
- Global government bond yields climbed this week, with US 30-year reaching the highest point since 2011 and yield benchmarks returning to 2008 levels as the US economy continues to perform well .
- Since Minnesota recently enacted law giving municipalities the option to invest in Credit Union Time Deposits, many have already taken advantage of the change. Currently, Credit Union CDs are providing the best yield pickup over treasuries in the 2 – 5 year maturities for permissible investments.
- BVAL AAA Curve = Bloomberg Valuation Service’s real-time and contributed sources tracking movement in the Municipal market.
- BBI = Bond Buyer Index; a daily index of municipal bond prices created by the Chicago Board of Trade and published by The Bond Buyer.
- RBI = Revenue Bond Index; a weekly index of interest rates on revenue bonds.
- 10-Year TSY = 10-Year Treasury index tracking the yield of U.S. Treasury Securities. It is closely watched as an indicator of broader investor confidence.
- SOFR Index = An extension of the Secured Overnight Financing Rate (SOFR), it measures the cumulative impact of compounding the SOFR on a unit of investment over time (i.e. One Year).
- Fed Funds Rate = Set by the Federal Open Markets Committee, it guides overnight lending between U.S. banks.
*30 Day Visible Supply based on Bloomberg Fixed Rate municipal calendars. Excludes accreted value of capital appreciation bonds and short-term notes. Prior to March 7, 2005, values calculated using full calendar history.
Source: Bloomberg – Rates as of 7/6/2023
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