Oklahoma Treasurer Todd Russ reported this week the state’s total investments gained nearly $2 billion from December 2022 to December of last year.
The total portfolio market value was $15.8 billion, or $1.9 billion more than the previous year. Russ explained that of the total portfolio, 66% ws in U.S. Treasurys and 8% were in U.S. government agencies.
PORTFOLIO PERFORMANCE, DIVERSIFICATION, AND STRATEGY
September portfolio yielded 3.05% with a weighted average maturity of 976 days.
Total portfolio market value of $15.8 billion, up $1.9 billion in comparison to December 2022.
Total portfolio contained 66% in U.S. Treasurys, 8% in U.S. government agencies,
17% in mortgage-backed securities, 8% money market mutual funds, 0.3% in certificates of deposit,
and 0.6% in state bond issues and foreign bonds, comprised the balance of funds invested.
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TOTAL FUNDS INVESTED Funds available for investment at market value include the State Treasurer’s investments at $12,348,659,042 and State Agency balances in OK Invest at $3,528,661,428 for a total of $15,877,320,470. |
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MARKET CONDITIONS
The treasury market fluctuated with the 10-year treasury ending 2023 at 3.88% which was very close to where it began the year. The 10-year rate reached a 16-year high above 5% but retreated by year-end. Meanwhile, the 2-year treasury closed at 4.25% in comparison to 4.43% on January 1. The 30-year came in at 4.03% which was only 0.06% higher than at the beginning of the year. The 2023 equity market reflected a bull environment beating expectations for the year. The S&P 500, Dow Jones Industrial Average and Nasdaq had rates of return for the year of 24%, 14% and 43%, respectively. The S&P earned 4%, the Dow was at 5% and the Nasdaq at 5% for the month of December. According to Barron’s the Dow topped 37000 for the first time and set seven record closes in the final days of 2023. A mania surrounding artificial intelligence and big technology stocks sent the Nasdaq soaring. |
