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Advisor tells Sandoval County committee falling short‑term rates hit liquidity yields; portfolio anchored in Treasuries
Summary
Government Portfolio Advisors told the committee that short‑term rates and bank deposit yields have fallen, pushing the county’s portfolio yield from about 3.95% to 3.32%; GPA said it is maintaining a defensive core (0–5 year) and weighting toward U.S. Treasuries while monitoring liquidity alternatives.
Government Portfolio Advisors president Diane Woodring briefed the Sandoval County Investment Committee on market conditions and portfolio positioning, telling members that short‑term benchmark yields and bank deposit rates have declined and that this dynamic has reduced the county’s overall portfolio yield.
Woodring said the three‑month Treasury bill — a liquidity benchmark — has trended materially lower and that market and Fed expectations point to lower short‑term rates through 2027. As a result, bank…
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