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WHAT DOES IT COST FOR CALIFORNIA TO BORROW? | ||
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Benchmark 2.93%Representative yield for 20-year, AAA-rated general obligation bonds, according to a major national market benchmark. (as of 11/22/16) |
Current 3.28%Representative yield for 20-year, CA general obligation bonds, according to a major CA market benchmark. (as of 11/22/16) |
One Year Ago 3.05%Representative yield for 20-year, CA general obligation bonds, according to a major CA market benchmark. (as of 11/22/15) |
For every $1 billion in bonds issued, CA will pay $30.3 million more in debt service over a 20-year period than a AAA-rated borrower. |
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All indicators reflect yields-to-call on bonds with 5% coupons and 10-year call options. Source: Municipal Market Data, licensed and used with permission. |
CALIFORNIA'S CURRENT GENERAL OBLIGATION CREDIT RATINGS | ||
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FITCH AA- |
MOODY'S Aa3 |
S&P AA- |
DEBT ISSUANCE | ||
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|
OCTOBER 2016 |
OCTOBER 2015 |
Statewide |
$7.675 billion |
$5.327 billion |
State of CA |
$3.157 billion |
$2.494 billion |
Source: CA Debt and Investment Advisory Commission |
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Read More About Debt Issued So Far This Year |
TREASURER'S OFFICE HIGHLIGHTS |
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$4.8 BillionIn Savings From Bond Refinancings Conducted by Treasurer Chiang Since January 2015 |
INVESTMENTS | ||
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POOLED MONEY INVESTMENT ACCOUNT (PMIA) |
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AS OF 10/31/16 |
AS OF 10/31/15 |
|
Ending Portfolio |
$70.4 billion |
$64 billion |
Average Effective Yield |
0.65 percent |
0.36 percent |
Average Investment Life |
163 days |
200 days |
LOCAL AGENCY INVESTMENT FUND (LAIF) |
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AS OF 10/31/16 |
AS OF 10/31/15 |
|
Ending Portfolio |
$20.9 billion |
$19.7 billion |
Participating Agencies |
2,460 |
2,470 |
AVERAGE MONTHLY YIELD COMPARISON-OCTOBER |
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0.654% |
S&P GOV'T INVESTMENT POOLS 0.680% |
FEDERAL FUNDS 0.395% |
Source: State Treasurer�s Office |
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