Market Report:
October 24
The third quarter of 2026 was a volatile period for U.S. Treasury rates, with yields moving sharply higher as the Federal Reserve (Fed) pivoted to tightening. Consistently strong economic data prints, including a much larger than expected August payrolls report, increased expectations for a rate hike which arrived mid- September, where the FOMC raised the policy rate by 25 basis points to lift the target range to 3.75%–4.0%. This decision, preceded by five consecutive decisions to hold rates steady, was unanimous. During September the yield on the 2-year Treasury rose 55 basis points (“bps”) to 4.89%. The yield on the benchmark 10-year Treasury rose 53 bps to 5.28% and the yield on the 30-year Treasury rose 21 bps to 5.63%.
Financial Fridays Sessions
Day to Day Fund
As of 2026-10-19
Day to Day Fund Balance
$1,331,246,318.78
Net Asset Value
$1.00
7 Day Yield
3.95%
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Short-Term Bond Fund
As of 2026-10-19
Short-Term Bond Fund Balance
$783,925,821.53
Net Asset Value
$30.67
30 Day Yield
4.65%
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"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."
“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.”
Upcoming Events
Sector Allocation
% of Portfolio Assets (04/30/2025)
Commercial Paper
42.58%
Certificate of Deposit
12.23%
Corporates
12.04%
Municipals
10.78%
Repurchase Agreements
9.09%
U.S. Treasuries
9.07%
Asset Backed Securities
3.65%
Money Market
0.56%%
%
U.S. Treasury Notes
29.11%
Coll. Mort. Obligations
25.93%
Corporates
22.99%
Asset Backed
19.92%
Money Market
1.20%
U.S. Agency Notes
0.75%
Your Investment
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