Monthly Review
December 2023 – Bond Market Review
Recent economic data continues to suggest positive but below trend growth this year. Labor markets remain solid, and the U.S. consumer has demonstrated resiliency.
December 15, 2023
Recent economic data continues to suggest positive but below trend growth this year. Labor markets remain solid, and the U.S. consumer has demonstrated resiliency.
Economic data released this week presented a mixed picture. The U.S. economy grew at an annualized rate of 5.2% in the third quarter, revised up from the initial estimate of 4.9%, with the upward revisions driven by business investment and government spending.
While mirroring CGC as closely as possible is ideal, it is a common practice for local governments to adopt investment policies more restrictive than CGC by incorporating industry best practices and recommendations offered by California Debt and Investment Advisory Commission (CDIAC), Government Finance Officers Association (GFOA), Association of Public Treasurers (APT) and California Municipal Treasurers Association (CMTA). The IPS should not only include specific language within CGC guidelines, but also reflect risk tolerance levels and values of your entity.
