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Market Synopsis
2024
May 2, 2024
Yesterday, the FOMC voted unanimously to keep rates
unchanged at 5.25%-5.50% due to the lack of progress in their pursuit to mitigate
inflation. The committee wants to see inflation get closer to the 2% target. The
one change they announced was the reduction of Treasuries that they will allow
to run-off their balance sheet – decreasing from $60 billion a month to $25
billion a month. Fed Chair Powell reiterated that he expects there will be a
rate cut before the end of the year and shot down the possibility of the next move
being a rate hike.
INVESTMENT IDEAS
| MUNICIPALS | ||||||||
| Amt | Rating | Description | Cpn | Maturity | YTC | YTM | Price | Callable |
| 40M | Topeka, KS Utility Rev Bonds | 4.250% | 08/01/50 | 4.250% | 4.250% | 100.00 | 08/01/31 | |
| 75M | Clearwater, KS GO Bonds | 3.150% | 10/01/32 | 3.150% | 3.150% | 100.00 | 10/01/31 |
| AGENCIES | ||||||||
| Amt. | Description | Cpn | MATURITY | YTC | YTM | Callable | Nxt Call | Price |
| 5000M | FHLB | 5.000% | 02/12/25 | 5.130% | 5.083% | Onetime | 11/12/24 | 99.925 |
| 5000M | FHLB | 5.300% | 04/02/26 | 5.710% | 5.353% | Anytime | 07/02/24 | 99.900 |
| 5000M | FHLB | 5.340% | 09/25/26 | 5.620% | 5.368% | Quarterly | 06/25/24 | 99.935 |
| 5000M | FHLB | 5.375% | 02/08/27 | 5.730% | 5.425% | Quarterly | 08/08/24 | 99.863 |
| 2000M | FHLB | 5.570% | 03/22/27 | 5.790% | 5.588% | Quarterly | 06/25/24 | 99.950 |
UPCOMING MUNICIPAL CALENDAR
| MUNICIPALS | |||
| Date | Amount | Description | Maturity |
| 5/1/24 | $11,385,000 | Clear Creek-Amana, IA School District GO Bonds | 2025 - 2044 |
| 5/2/24 | $5,105,000 | City of Clive, IA GO Bonds | 2025 - 2034 |
| 5/6/24 | $4,480,000 | City of Mount Vernon, IA GO Notes | 2025 - 2043 |
| 5/6/24 | $15,945,000 | City of West Des Moines, IA Notes | 2025 - 2034 |
| 5/6/24 | $6,500,000 | City of West Des Moines, IA GO Bonds | 2025 - 2036 |
| 5/7/24 | $10,140,000 | City of Iowa City, IA GO Bonds | 2025 - 2034 |
This information is obtained from sources and data considered to be reliable, but its accuracy and completeness is not guaranteed by Central States Capital Markets, LLC.