Treasurer’s Office Firsts in 2016: A Year of Accomplishments
The State Treasurer’s Office racked up a number of remarkable firsts in 2016. Read more
Head to Head: Sanctuary Cities
In the latest installment of Head to Head, Assembly Speaker Anthony Rendon and Ben Boychuk, managing editor of American Greatness, discuss the protection of "sanctuary cities" in California. Read more
WHAT DOES IT COST FOR CALIFORNIA TO BORROW? | ||
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Benchmark 2.99%Representative yield for 20-year, AAA-rated general obligation bonds, according to a major national market benchmark. (as of 12/22/16) |
Current 3.30%Representative yield for 20-year, CA general obligation bonds, according to a major CA market benchmark. (as of 12/22/16) |
One Year Ago 2.79%Representative yield for 20-year, CA general obligation bonds, according to a major CA market benchmark. (as of 12/22/15) |
For every $1 billion in bonds issued, CA will pay $27.1 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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NOVEMBER 2016 |
NOVEMBER 2015 |
Statewide |
$4.821 billion |
$4.888 billion |
State of CA |
$1.148 billion |
$1.464 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 11/30/16 |
AS OF 11/30/15 |
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Ending Portfolio |
$70.4 billion |
$64.8 billion |
Average Effective Yield |
0.68 percent |
0.37 percent |
Average Investment Life |
167 days |
183 days |
LOCAL AGENCY INVESTMENT FUND (LAIF) |
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AS OF 11/30/16 |
AS OF 11/30/15 |
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Ending Portfolio |
$20.7 billion |
$19.4 billion |
Participating Agencies |
2,459 |
2,474 |
AVERAGE MONTHLY YIELD COMPARISON-NOVEMBER |
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0.678% |
S&P GOV'T INVESTMENT POOLS 0.710% |
FEDERAL FUNDS 0.402% |
Source: State Treasurer�s Office |
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