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County'investment advisor urges laddering investments as Fed signals possible cuts
Summary
Seminole County's investment advisor reviewed economic indicators, said the portfolio was yielding about 4.71% (Oct. 31) and recommended stepping out the yield curve to lock higher rates as maturities (about $52 million) come due; the board approved the advisor's recommendations unanimously.
Scott McIntyre, the county's investment advisor, briefed commissioners on national economic indicators and Seminole County's portfolio at the Dec. 10 meeting and recommended investing some funds farther out on the yield curve to lock higher returns while opportunities exist. McIntyre cited upcoming Federal Reserve meetings and market sensitivity to fiscal policy and tariffs, and gave specific portfolio context: "the portfolio was was yielding $4.71 at that point in time," he said of Oct. 31 data, and noted about $52,000,000 in upcoming maturities.
After questions from commissioners, Chair moved to implement the advisor's recommendations and the board voted to authorize the clerk to implement the investment plan submitted by the advisor. McIntyre highlighted risk factors including temporarily higher inflation from tariffs and potential fiscal policy changes and recommended a laddered approach to maintain interest income into 2026 and 2027.
