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City hears investment review: portfolios yielding about 4% as Fed outlook shifts
Summary
The commission received an annual investment and economic update from Public Trust Advisors. Presenter John Gray summarized Q2 GDP growth, recent jobs and inflation readings and said the city's one-to-three and one-to-five year fixed-income portfolios are earning roughly 4.1% on average and compliant with Florida law.
Dania Beach, Fla. — At its Oct. 28 meeting, the Dania Beach City Commission received the city’s annual investment portfolio review from John Gray of Public Trust Advisors, delivered via CFO Jamie Guzman.
Gray summarized recent macroeconomic indicators: second-quarter GDP at 3.8%, a recent downward revision to jobs data, a July–August unemployment rate around 4.3% and an August Consumer Price Index near 3.0%, above the Federal Reserve’s 2% target. He said these mixed signals complicate the Fed's interest-rate outlook and that markets were pricing possible rate cuts into late 2026.
Portfolio overview: Gray described a two-portfolio structure that prioritizes safety, liquidity and yield. The one-to-three-year portfolio maintains an average maturity near 1.8 years and an average yield near 4.1%, emphasizing U.S. treasuries and highly rated corporate and municipal holdings. The one-to-five-year portfolio holds longer maturities (average ~2.5 years) with similar yields around 4.0–4.1%. Together the portfolios carry an aggregate average maturity just over two years and a large share of high-rated securities.
Compliance: Gray confirmed the city’s investment program is compliant with Florida statutes and with the city’s investment policy statement.
Commission response: Commissioners thanked the presenter but asked no substantive follow-up questions. CFO Guzman and Public Trust Advisors will continue to provide monthly updates to staff as market conditions evolve.
Quote: "We maintain a highly rated portfolio focused primarily on U.S. Treasury securities with an average yield for the one-to-three-year portfolio of about 4.1% as of the fiscal-year end," John Gray said.
Context: The review is part of the city’s annual fiscal oversight and informs treasury choices for operating and reserve funds.
