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Pasco County reports $38 million in investment earnings as portfolio tops $2.1 billion
Summary
County finance staff and PFM Asset Management gave the board a market update May 6, reporting $2.1 billion in invested assets and $38 million in interest income year‑to‑date, with expectations of roughly $16 million more from near-term term investments; presenters cautioned returns depend on Federal Reserve actions.
Pasco County financial staff and PFM Asset Management presented a market update to the Board of County Commissioners on May 6, reporting $2.1 billion in county invested assets and strong year-to-date interest earnings.
Sean Gannon, institutional sales and relationship manager for PFM Asset Management, told the board that short-term fixed-income markets have recently been favorable to returns and noted the Federal Reserve was meeting that week, which could affect future yields. "What we're looking at now here is the impact of tariffs and what the Federal Reserve is going to do, because what they do…
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