| Friday, March 22, 2024 |
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MANAGING DIRECTOR: |
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US Treasury Market |
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| Date | 1 mo | 3 mo | 6 mo | 1 yr | 2 yr | 3 yr | 5 yr | 7 yr | 10 yr | 20 yr | 30 yr |
| 03/15/24 | 5.37 | 5.40 | 5.33 | 5.07 | 4.73 | 4.51 | 4.33 | 4.33 | 4.30 | 4.55 | 4.43 |
| 03/18/24 | 5.40 | 5.40 | 5.34 | 5.08 | 4.73 | 4.52 | 4.34 | 4.35 | 4.33 | 4.56 | 4.45 |
| 03/19/24 | 5.39 | 5.39 | 5.34 | 5.09 | 4.67 | 4.47 | 4.30 | 4.31 | 4.30 | 4.55 | 4.44 |
| 03/20/24 | 5.37 | 5.39 | 5.30 | 4.99 | 4.60 | 4.40 | 4.25 | 4.27 | 4.27 | 4.55 | 4.45 |
| 03/21/24 | 5.37 | 5.39 | 5.31 | 5.00 | 4.64 | 4.41 | 4.25 | 4.28 | 4.27 | 4.53 | 4.44 |
The data in the table above is static as of the time it was pulled, so rates may have changed. Treat all data in this table and PMR as indications only and availability is always subject to change. This information was pulled manually from sources we believe to be reliable. New source, as of 12/12/2022, Bloomberg, L.L.P. As of: close of business 3/21/2024.
T + 3…2…1
The Depository Trust & Clearing Corporation (DTCC) has once again made a change to the time period of settlement after a trade takes place. On February 15th of this year, the SEC amended Rule 15c6-1 and adopted SEC Rule 15c6-2, changing and accelerating the settlement cycle for DTCC eligible securities.
Beginning May 28th of this year, the trade settlement period for U.S. Markets will be shortened to only 1 day, or T+1. The day a bond trade is executed is known as the trade or transaction date. The day when ownership of the bonds becomes official is known as the settlement date. This is also the time when payment and delivery takes place.
This new “Operations Edition” of the Portfolio Managers Report is designed to provide a reminder of this pending change. Being ready for the faster settlement cycle is important and might require operational changes within your organization to meet the new standard. One example to consider is the importance of managing pledged assets. When selling securities, please make sure the asset is unencumbered and not pledged. Failing to do this can result in the trade failing with a potential of incurring a charge by the purchasing dealer for failing to deliver.
If you have questions or we can help in any way, please reach out to your Country Club Bank representative or by reaching our Operations team at BondOps@countryclubbank.com .
Beginning May 28th of this year, the trade settlement period for U.S. Markets will be shortened to only 1 day, or T+1. The day a bond trade is executed is known as the trade or transaction date. The day when ownership of the bonds becomes official is known as the settlement date. This is also the time when payment and delivery takes place.
This new “Operations Edition” of the Portfolio Managers Report is designed to provide a reminder of this pending change. Being ready for the faster settlement cycle is important and might require operational changes within your organization to meet the new standard. One example to consider is the importance of managing pledged assets. When selling securities, please make sure the asset is unencumbered and not pledged. Failing to do this can result in the trade failing with a potential of incurring a charge by the purchasing dealer for failing to deliver.
If you have questions or we can help in any way, please reach out to your Country Club Bank representative or by reaching our Operations team at BondOps@countryclubbank.com .
This information is intended for institutional investors only. The material provided in this document/presentation is for informational purposes only and is intended solely for private use. Past performance is not indicative of future results. This material is not intended as an offer or solicitation for the purchase or sale of any financial instruments.
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