Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Investment manager Justin: town portfolio outperformed benchmark modestly; recommends cautious duration extension
Summary
Justin, the town's outside investment manager, told the Finance & Investment Committee the town’s portfolio produced positive returns for the quarter ended Dec. 31 and recommended modestly extending duration toward the two-year sector as macro conditions evolve. He reported purchases, yield metrics and a plan to monitor Fed policy for timing of rate cuts.
Justin, the town’s external investment manager, told the Finance & Investment Committee that the town’s portfolio performed well during the quarter ended Dec. 31 and that modest extension of duration could be appropriate if short-term rates normalize.
Justin said recent macro data — including unemployment around 4.3% and personal consumption expenditures near 2.9% — argue for a cautious posture. “I would say one rate cut is certainly in the cards,” he said,…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
