Treasurer Chiang Announces Scholar Dollars Winners
To compete in today’s highly competitive global economy, our young students require a well-rounded education that combines reading, writing and arithmetic with coding, athletics and the fine arts. Read more
Head to Head: Banning the Builders of ‘The Wall’
In this month’s installment of Head to Head, Todd Bloomstine, a lobbyist for the Southern California Contractors Association, and Kim Delfino of Defenders of Wildlife, discuss SB 30, legislation that would prevent companies that participate in constructing “The Wall” on the U.S.-Mexico border from future California contracts. Read more
WHAT DOES IT COST FOR CALIFORNIA TO BORROW? | ||
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Benchmark 2.76%Representative yield for 20-year, AAA-rated general obligation bonds, according to a major national market benchmark. (as of 4/21/17) |
Current 3.04%Representative yield for 20-year, CA general obligation bonds, according to a major CA market benchmark. (as of 4/21/17) |
One Year Ago 2.49%Representative yield for 20-year, CA general obligation bonds, according to a major CA market benchmark. (as of 4/21/16) |
For every $1 billion in bonds issued, CA will pay $23.8 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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MARCH 2017 |
MARCH 2016 |
Statewide |
$6.992 billion |
$10.195 billion |
State of CA |
$3.117 billion |
$4.856 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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$5.5 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 3/31/17 |
AS OF 3/31/16 |
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Ending Portfolio |
$71.9 billion |
$67.7 billion |
Average Effective Yield |
0.82 percent |
0.51 percent |
Average Investment Life |
180 days |
146 days |
LOCAL AGENCY INVESTMENT FUND (LAIF) |
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AS OF 3/31/17 |
AS OF 3/31/16 |
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Ending Portfolio |
$21.4 billion |
$21.1 billion |
Participating Agencies |
2,450 |
2,469 |
AVERAGE MONTHLY YIELD COMPARISON-FEBRUARY |
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0.821% |
S&P GOV'T INVESTMENT POOLS 0.900% |
FEDERAL FUNDS 0.783% |
Source: State Treasurer’s Office |
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