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Investment advisers report $1.4M interest, ARPA liquidation and corrected commercial‑paper limit breach
Summary
Advisers told Sandoval County’s investment committee the county earned about $1.4 million in interest year to date, liquidated the last $6 million of ARPA funds back to the county, and reported a temporary commercial‑paper issuer limit breach that was corrected and reported to the treasurer.
Advisers from GPA told the Sandoval County Investment Committee that the county’s interest‑bearing accounts have earned about $1,400,000 since January, with bank deposits earning roughly 3.75% on interest‑bearing accounts, and that the county currently has about $60,600,000 invested at Zions and in LGIPs.
Diane and Frank, the advisers reporting for GPA, gave a market overview and portfolio compliance briefing. Frank described a downward shift in the yield curve since Q1 2025 and said advisers expect short‑term yields to decline if the Federal Reserve eases rates. Diane summarized portfolio positioning: the composite is overweighted to U.S. Treasuries within policy constraints,…
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