Financial Markets Overview

Prepared & Presented by the Investment Team of the Pooled Money Investment Board - State of Kansas

Scott Miller, Executive Director & Chief Investment Officer smiller@pmib.ks.gov 

Rolling Economic Calendar: September 4, - November 10, 2017
Fed Focus: Last Update on 09/20/2017 (Next FOMC Meeting: October 31 - November 1, 2017)
Glossary of "Key" Economic Indicators


A Picture of the Traditional Wall Street Bull & Bear (in Crystal)...

For Friday, October 20, 2017

The "Rate Grid"

 

U.S. Treasury Securities

Yield:
10/20/2017
(8:20 AM)

State of Kansas "Investment Rates"

Rates:
Week of 10/16/2017

Kansas "MIP"
Fixed-Rate
Options

MIP
Rates:

10/20/2017
1-Mo. T-Bill    (11/16/2017) 0.982 1-89 Days
1.16 FX-30
(30-89 Days)
 0.95%
3-Mo. T-Bill    (01/18/2018) 1.090
3-Months
1.10 FX-90
(90-179 Days)
0.95%
6-Mo. T-Bill    (04/19/2018)  1.255
6-Months
1.25
FX-180
(180 Days)
1.05%
1-Yr. T-Bill (10/11/2018) 1.408
1-Year
1.42
FX-365
(365 Days)
1.22%
18-Mo. T-Note (04/2019) 1.513 18-Months 1.47 FX-550
(550-723 Days)
1.22%
2-Yr. T-Note (09/2019) 1.568 2-Years 1.52 FX-730
(724-730 Days)
1.27%

**Short-Term Interest Rate Barometers**


FOMC Benchmark Rates: ( 03/15/2017) Fed Funds Target (Range): 0.75% - 1.00%, Prime Credit (Discount) Rate: 1.50%

U.S. Prime Rate ("Best" customers lending rate): (as of 03/16/2017) 4.00%

Fed Fund Futures: (10/19/17: Close) Jan '18: 1.350%,  Mar
'18: 1.400%, Jun '18: 1.525%

LIBOR Rates (at OPEN): 1-Month: 1.23888, 3-Month: 1.36261, 6-Month: 1.55055
U.S Equity Indices:  (10/19/17: Closing Level / Daily Change) & (YTD % Return)
DJIA:               
23,163.04               /                  +5.44                   /              +17.21%
S&P 500:          2,562.10               /                   +0.84                   /              +14.44%
NASDAQ:         6,605.07               /                  -19.15                   /              +22.70%        
                                                 
U.S Commodity Futures: (10/19/17
: Closing Level / Daily Change) 
Crude Oil (Per Barrel);   
Nov Contract:                  $51.29          /            -0.75
Gold (Per Troy ounce);   Dec Contract:             $1,290.00         /            +7.00
Reuters/Jefferies CRB Index:     184.07
    
/          +0.07

This material is gathered from various sources and is presented for general information purposes only. The opinions expressed are solely those of the author and are not intended to solicit or initiate any investment action on the part of the reader. In his capacity as the Executive Director & Chief Investment Officer for the Pooled Money Investment Board, Mr. Miller is responsible for the daily investment selection, trade execution, and portfolio management of the Pooled Money Investment Portfolio (PMIP) and the Health Care Stabilization Fund (HCSF). Additionally, he is a member of the investment team that provides investment advice and trade execution for the Kansas Department of Transportation (KDOT) investment portfolio. Mr. Miller has been working in the field of Fixed-Income Investments and Portfolio Management for over 34 years (May, 1983), holds a B.A. in Business Administration, and is a graduate from two American Banking Association Schools; the School of Bank Investments and the School of Financial & Funds Management. Mr. Miller has been working for the State of Kansas (PMIB) for over 23 years; hired as Investment Officer (March, 1994); promoted to Senior Investment Officer (November, 1998); appointed Interim Director (March, 2011); promoted to Director of Investments & Chief Investment Officer (May, 2011); and promoted to Executive Director & Chief Investment Officer (June, 2015). Prior to State Service, he spent seven years as the Investment Officer / Portfolio Manager at the lead bank of a six bank group in Nebraska, two years on the Fixed-Income Trading Desk of a large regional broker/dealer in Kansas City (Missouri), and three years at the Central Clearing Facility for the Credit Union System (Overland Park, Kansas) on the Asset/Liability and Fixed-Income Trading Desks. Mr. Miller can be reached at 785-296-7053 or send e-mail to: smiller@pmib.ks.gov
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