Investing in Tobacco Companies is Harmful to Health, State�s Bottom Line
The nation�s biggest public pension fund, once again, is embroiled in controversy over whether or not to invest in companies that manufacture and market legal but often deadly cigarettes, cigars and other tobacco products. Read more
Head to Head on Minimum Wage Increase
In the latest installment of Head to Head, Dave Regan, president of SEIU-United Healthcare Workers West, and Jot Condie, co-chair of California Consumers Against Higher Prices Coalition, debate the minimum wage increase in California. Read more
WHAT DOES IT COST FOR CALIFORNIA TO BORROW? | ||
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2.2%Representative yield for 20-year, AAA-rated general obligation bonds, according to a major national market benchmark. (as of 5/23/16) |
2.4%Representative yield for 20-year, CA general obligation bonds, according to a major CA market benchmark. (as of 5/23/16) |
3.4%Representative yield for 20-year, CA general obligation bonds, according to a major CA market benchmark. (as of 5/22/15) |
For every $1 billion in bonds issued, CA will pay $16.8 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 A+ |
MOODY'S Aa3 |
S&P AA- |
DEBT ISSUANCE | ||
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APRIL 2016 |
APRIL 2015 |
Statewide |
$8.417 billion |
$6.904 billion |
State of CA |
$2.962 billion |
$3.266 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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$3.3 BillionIn Public Benefits From Refinancings Conducted by Treasurer Chiang Since January 2015 |
INVESTMENTS | ||
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POOLED MONEY INVESTMENT ACCOUNT (PMIA) |
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AS OF 4/30/16 |
AS OF 4/30/15 |
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Ending Portfolio |
$68 billion |
$68 billion |
Average Effective Yield |
0.53 percent |
0.28 percent |
Average Investment Life |
165 days |
220 days |
LOCAL AGENCY INVESTMENT FUND (LAIF) |
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AS OF 4/30/16 |
AS OF 4/30/15 |
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Ending Portfolio |
$22.2 billion |
$21.2 billion |
Participating Agencies |
2,461 |
2,500 |
AVERAGE MONTHLY YIELD COMPARISON-APRIL |
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0.525% |
S&P GOV'T INVESTMENT POOLS 0.540% |
FEDERAL FUNDS 0.369% |
Source: State Treasurer�s Office |
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