Market Report:

November 22

The Federal Open Market Committee (FOMC) concluded its October meeting by cutting the federal funds rate by 25 basis points(“bps”), which was largely priced into markets. The yield on the 2-year Treasury note fell four bps to 3.57%. The yield on the benchmark 10-year Treasury fell seven bps to 4.08%. The yield on the 30-year Treasury fell eight bps to 4.65%.

Monthly Economic and Market Commentary

Payden & Rygel Investment Management

Funds professionally managed by Payden & Rygel for 29 years running.

  • "It is my honor to serve as Chair of the Florida Trust – the longest running, member-owned and member-governed local government pool in the state. The Trust has met the investment and diversification needs of local governments all over Florida since its 1991 inception. Nearing its third decade, it continues to provide a great combination of safety, liquidity and yield, in that order."
    Hon. Pamela Childers, CPA, CGFO
    Escambia County Clerk of Court
  • “The Florida Trust provides local governments with two excellent investment options to manage public dollars safely and effectively. Polk County uses the Florida Trust Day to Day Fund to meet some of our short term investment needs and the Florida Trust Short Term Bond Fund to invest a portion of our core assets. We are pleased with the structure of the funds, the investment strategies used, the high quality of the securities purchased, and the overall level of service provided by Florida Trust staff and Payden & Rygel.”
    Philip J. Borozny, CTP
    Investment Manager Polk County Clerk of Circuit Court & Comptroller

Upcoming Events

14aug1:00 pm4:00 pmBoard Meeting

15aug8:00 am1:00 pmFinancial Friday

Sector Allocation

% of Portfolio Assets (04/30/2025)

Commercial Paper

27.77%

Repurchase Agreements

18.57%

Certificate of Deposit

14.51%

Corporates

12.05%

Asset Backed Securities

8.94%

U.S. Treasuries

7.59%

Municipals

6.61%

Govt. Related Securities

3.68%

Coll. Mort. Obl.

0.21%

Money Market

0.08%

U.S. Treasury Notes

32.97%

Corporates

26.07%

Asset Backed Securities

21.09%

Coll. Mort. Obligations

11.84%

U.S. Agency Notes

5.97%

Government Related Securities

0.99%

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