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Treasurer warns of global oil shocks and higher yields; county portfolio and budget planning remain conservative
Summary
County Treasurer Bill Cooney told the board international hostilities have pushed oil above $120/barrel in market reporting and driven Treasury yields higher; he reported county portfolio balances and urged awareness of macro risks as the county finalizes budgets.
Treasurer Bill Cooney (S2) briefed the board on national and regional economic conditions and the countys investment position.
Cooney tied recent oil-price volatility to military activity affecting the Strait of Hormuz and said that market disruption has widened price swings and contributed to higher energy costs that could depress consumer spending. He noted the Federal Reserve held policy rates steady after its most recent meeting and that the 10-year…
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