Dr. Paul Ziegler to Join the PMA and MOCAAT Team
PMA, a premier full-service provider of financial and advisory services to local governments, is pleased to announce that Dr. Paul Ziegler will be joining the team as Coordinator of Investment Services as of October 2, 2023. He will partner with the Missouri Capital Asset Advantage Treasury (MOCAAT) to serve school districts and other political subdivisions throughout the state of Missouri.
PMA Financial Network Welcomes Jeff Carew as Vice President, Client Solutions
PMA, a premier full-service provider of financial and advisory services to local governments, is pleased to announce that Jeff Carew has joined the team as Vice President, Client Solutions (as of March 15, 2023).
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Like a Lion
The rates market roared in March as Treasury yields rose and fell sharply in response to economic data and market developments. The 2-year Treasury yield began the month near 4.8%, climbed to over 5% and dipped below 4% during the month.
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Treasury Curve Further Inverts
The Treasury curve inverted more deeply in February as 2-year Treasury yields rose 61 basis points. The increase was caused by expectations for additional rate hikes due to stronger inflation and employment reports during the month.
PMA/MOCAAT Achieves Significant Milestone – Reaching $2B in Fund Assets
PMA, a premier full-service provider of financial and advisory services to local governments, along with the Missouri Capital Asset Advantage Treasury (MOCAAT), achieved a significant milestone by reaching $2 billion in assets in MOCAAT and its Fixed Rate Investment Program as of February 24, 2023.
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Strong Bond Returns
Bonds generated strong returns in January as U.S. Treasury yields declined modestly and credit spreads declined. A large spike in market yields in 2022 boosted income for bondholders, which aids returns.
PMA Grieves the Loss of Founder Dr. Robert “Bob” English
It is with heavy hearts that we announce the passing of PMA’s founder, Dr. Robert “Bob” English, who passed away this past weekend, surrounded by his loving family. Those of us who have had the opportunity to know and work with Dr. English feel a great loss, but his passion for schools and the communities that PMA serves will live on forever.
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Recent News
Banks Utilize Cautious Investment Approach
U.S. commercial banks were hesitant to deploy their cash into securities in the third quarter as securities fell 3.7% from the prior quarter, declining to 25% of assets from 26% the prior quarter, according to S&P Global Market Intelligence.
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Tighter Financial Conditions Slow Growth
During 2022, global central banks tightened monetary policy in an effort to combat heightened inflation. This tightened financial conditions and has resulted in manufacturers slowing production globally.