2 min readInsight on the economy and your cash portfolio At the end of last year, we published a Quarterly Cash Update which provided a recap of the markets in 2023 and discussed the possibility that we had reached an inflection point in which interest rate cuts would begin in 2024. As we begin Q2 of 2024,…
12 min readAbstract In a falling interest rate environment, sensitivity related to uninsured deposits and income preservation argues for consideration of cash management vehicles outside of bank deposits and money market funds. While ultra short bond funds (USBFs) hold promise as potential yield enhancing tools, they may exhibit many of the same issues as prime funds, with…
2 min readRecap and insight on the economy and your cash portfolio in 2023 After continuous increases in interest rates by the Federal Reserve (“the Fed”) since March 2022, it seems we may have reached the inflection point and that the Fed may begin interest rate cuts starting in 2024. Watch our latest Quarterly Cash Update to…
10 min readExecutive Summary Effective liquidity management, especially for large cash portfolios with a range of investments, can quickly turn into a larger and more complex task than initially expected. Some financial executives may not have a firm grasp of what liquidity means in a portfolio of individual cash assets. But adhering to some simple guidelines and…
2 min readInsight and Perspective on the economy and your cash portfolio After continuous increases in interest rates by the Federal Reserve (“the Fed”) since March 2022, it seems to some that we may be reaching a point of inflection in which the Fed may hike rates once more before taking a pause. Watch our latest Quarterly…
15 min readOnce again, it’s time for CFOs and corporate cash investors to start focusing on another debt ceiling showdown in the United States Congress. On May 1st, 2023, Treasury Secretary Janet Yellen updated Congressional leaders that the United States would not be able to pay all its bills by June 1st, 2023.1 Secretary Yellen had previously…
4 min readWhy a separately managed account may be right for you and your cash investment needs. What is an Separately Managed Account? A Separately Managed Account (SMA) is a portfolio of assets that offers customization in investment strategy, approach, and management style. The customization of SMAs allows investors to build a portfolio of securities that is…
11 min readIntroduction By Lance Pan, CFA Since we started publishing the annual “themes to watch” series in 2008, this edition marks our 16th anniversary of looking at key market-moving trends for institutional cash investors. To shake off our Covid-induced autophobia (fear of being alone), I enlisted members of my credit research team to co-author last year’s…
2 min readInsight and Perspective on the economy and your cash portfolio After multiple interest rate increases since March 2022, institutional cash investors are welcoming higher returns but wary of the possibility that an economic slowdown or recession might increase credit risk in their cash portfolio. Watch our latest Quarterly Cash Update for insights and perspective on…
7 min readHow Russia’s halt on the Nord Stream 1 pipeline may lead to energy shortages in Europe Co-authored by: Matthew Paniati As the US economy faces high inflation, slowing growth, and aggressive monetary policy, another macroeconomic threat has presented itself overseas. On August 31st, 2022, Russian-controlled Gazprom PJSC announced an indefinite halt on natural gas flows…