Daily Market Report:
April 25
Volatility and uncertainty characterized financial markets in March. For example, the yield on the 10-year U.S. Treasury note started the month at 4.21%, fell to 4.12%, then rose to 4.40%, but finished the month near where it began at 4.21%. Why? Inflation reacceleration worries offset economic growth concerns. Regarding growth, a softer-than-expected rebound in consumer spending in February did not make up for the slump in consumer spending in January. Consequently, first quarter GDP growth may register an annualized rate between 1% and 2%, the softest quarterly reading in three years. Sluggish growth estimates pushed down U.S. Treasury yields. However, more persistent price pressures pushed yields up, or at least kept yields higher than they otherwise might have been. The personal consumption expenditures (PCE) price index registered a 0.4% rise in February, the fastest one-month increase in core inflation in over a year. Tariffs add upside risk to inflation in the near term and will impact growth prospects overall.
Monthly Economic and Market Commentary
Day to Day Fund
As of 2025-04-21
Day to Day Fund Balance
$1,310,868,940.130
Net Asset Value
$1.00
7 Day Yield
4.40%
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Short-Term Bond Fund
As of 2025-04-21
Short-Term Bond Fund Balance
$602,530,031.48
Net Asset Value
$29.30
30 Day Yield
4.31%
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Sector Allocation
% of Portfolio Assets (12/31/2024)
Commercial Paper
19.63%
Certificate of Deposit
16.30%
Repurchase Agreements
15.60%
Municipals
13.86%
Asset Backed Securities
11.36%
Corporates
10.79%
U.S. Treasuries
7.93%
Govt. Related Securities
3.49%
Coll. Mort. Obl.
0.93%
Asset Backed
30.07%
Corporates
28.69%
U.S. Treasury Notes
27.86%
Coll. Mort. Obligations
10.97%
Government Related Securities
1.19%
Money Market
1.22%
Your Investment
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