[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-210057-en":3,"doc-seo-210057-105":30,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":27,"seo_description":14,"update_tm":28,"read_time":29},210057,2336477974920,"Mimi","https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d",8,"Research & Report","City of Los Angeles Office of Finance - Investment Report - May 28, 2026","Investment Report for the City of Los Angeles, Office of Finance, dated May 28, 2026, covering activities and performance through the month ending January 31, 2026. The report summarizes the economic environment, describes current and forward interest rates using the Treasury yield curve, and confirms compliance with applicable California and City investment policies. It presents General Pool portfolio characteristics, book yield and total return performance tables by portfolio segment, and explains measurement methodology, benchmarks, and reporting standards for risk and budgetary evaluation.","City of Los AngelesOffice of Finance  \nInvestment ReportJanuary 31,2026  \nDiana MangiogluCity Treasurer/Director of Finance  \nTom JuarezChief Investment Officer  \n200N.Spring StreetRoom 220,City HallLos Angeles,CA90012(213)978-1774  \nThe Honorable Members of City Council of the City of Los Angelesc/o Office of the City ClerkCity Hall,Room 395  \nThe U.S.economy (as measured by the GrossDomestic Product-GDP)increased 1.4%on anannualized basis for the fourth quarter of 2025.Thecurrent anticipated growth rate for all of 2025 is  \n2.2%which matches last month's 2025 full-yearforecast.The U.S.unemployment rate for January2026 was 4.3%.The Consumer Price Index(CPI)increased 2.4%for the twelve months endingJanuary 2026.Prices were up in large part due towages,shelter,education,and services.U.S.consumer spending,as measured by Retail Sales,increased 2.4%over the past twelve months.  \nMay 28,2026  \nDear Honorable Members:  \nECONOMIC ENVIRONMENT¹  \nCITY OF LOS ANGELES  \nOFFICE OF FINANCE  \n200N,SPRING ST.  \nROOM 220-CITY HALL  \nCALIFORNIA  \n(213)978-1774  \nKAREN R.BASS  \nMAYOR  \nThis is the Investment Report for the month ending January 31,2026.It is provided to ensure the CityCouncil is informed of the Department's activities.It satisfies the recommended reportingrequirements of the City of Los Angeles Administrative Code,Chapter 5.1,Article 1,Section 20.90,which addresses the City Council's request for monthly financial information.  \nThe Federal Reserve cut the Fed Funds rate withinthe 3.50%to 3.75%range at its December 10,2025meeting.The Committee stated,\"Availableindicators suggest that economic activity has beenexpanding at a moderate pace.Job gains haveslowed this year,and the unemployment rate hasedged up through September.More recentindicators are consistent with these developments.Inflation has moved up since earlier in the year andremains somewhat elevated.In assessing theappropriate stance of monetary policy,theCommittee will continue to monitor theimplications of incoming information for theeconomic outlook.The Committee would beprepared to adjust the stance of monetary policy asappropriate if risks emerge that could impede theattainment of the Committee's goals.\"  \n# CURRENT AND FORWARD INTEREST RATES\n\nThe current U.S.Treasury yield curve is invertedon the front end of the curve and upward slopingon the longer end of the curve,giving longer terminvestors more yield as they realize more interestrate risk than shorter term investors.Forward yieldcurves,which are based upon the current rates,indicate lower short-term rates and higher long-term rates in the future.  \n# COMPLIANCE\n\nInvestment transactions were executed in accordance with the California State Government Code andthe City's Investment Policy.The City Treasurer believes the General Pool contains sufficient cashflow liquidity to meet the next six months of expected expenditures.  \n# REVIEWAND MONITORING\n\nMeeder Public Funds,the City's investment advisor,currently monitors the Department's investmentactivities.  \nGENERAL POOL CHARACTERISTICS  \nThe Office of Finance invests in a variety of fixed income securities in accordance with current policyand guidelines.The following table summarizes the key characteristics of the City's investmentportfolios as of January 31,2026.  \n\n| Portfolio Funds   | Amount of Funds at  \u003Cbr>Market Value   | Effective Yield   | Average  \u003Cbr>Weighted  \u003Cbr>Maturity   | Average  \u003Cbr>Credit  \u003Cbr>Rating   |\n| --- | --- | --- | --- | --- |\n| Core Portfolio   | $6,071,616,237   | 3.27%   | 99 Days   | AA+   |\n| Reserve Portfolio   | $7,154,262,187   | 3.07%   | 2.7 Years   | AA+   |\n| Extended Reserve Portfolio   | $3,149,913,811   | 3.75%   | 7.0 Years   | AA+   |\n| General Pool   | $16,375,792,235   | 3.28%   | 2.6 Years   | AA+   |\n\n# INVESTMENT PERFORMANCE¹\n\nMonth-End Book Yield(Annualized)  \n\n|  | Core   | Reserve   | Extended  \u003Cbr>Reserve   | General Pool   |\n| --- | --- | --- | --- | --- |\n| Month-End Book Yield   | 3.27%   | 3.07%   | 3.75%","cbCaicTBdfgwp2hc","https://ap.wps.com/l/cbCaicTBdfgwp2hc","pdf",12342703,1,42,"English","en",105,"# Economic Environment\n## Current and Forward Interest Rates\n# Compliance\n# Review and Monitoring\n# General Pool Characteristics\n# Investment Performance","[{\"question\":\"What period does the investment report cover?\",\"answer\":\"The report covers activities for the month ending January 31, 2026, and is dated May 28, 2026.\"},{\"question\":\"What guidance does the report cite regarding monthly reporting?\",\"answer\":\"It states the report satisfies the recommended reporting requirements of the City of Los Angeles Administrative Code, addressing the City Council’s request for monthly financial information.\"},{\"question\":\"How does the report distinguish book yield from total return?\",\"answer\":\"Book yield is used primarily for budgetary purposes, while total return is used primarily to measure risk, including realized and unrealized gains and losses calculated to the last business of the month.\"}]","City of Los Angeles Office of Finance - Investment Report - May 28, 2026 | 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