Trading ···4821

Value $24.6M clean Uninvested cash $3.5M TEY of YTW 4.48% Eff. duration 7.4y Wtd rating AA− Positions 64

Put cash to work Raise cash Find a bond Rebalance to mandate Swap a position

Needs attention

Everything not shown here is inside the mandate.

Excess cash · target ≤ 2%

14.2% · $3.5M idle

Step 1 below

Effective duration · target 6–7y

7.4y · long of the band

Steps 1 + 2 together

Issuer concentration · cap 10%

12.3% · one issuer

Step 2 below

Put cash to use

Buy-only — no sells, safe to take on its own. Both bonds fit every mandate rule.

$3.5M uninvested — two bonds deploy $3.4M of it

Cash is 14.2% of the account against a ≤ 2% target. Both buys sit at the short end, which also pulls duration toward its band.

$3.5M idleApprove the buys

	Bond	Par	Price	Coupon	YTW	TEY	S&P	Maturity	Eff. dur.
BUY	Central States Water Auth Rev 15234KAB7 · essential service	$1.75M	99.64	5.00%	3.38%	4.81%	AA	2031	4.6y
BUY	Harbor City Unified School GO 41168PCD2 · general obligation	$1.65M	101.12	5.00%	3.29%	4.68%	AA+	2029	2.9y

Cash 14.2% → 0.6% in range Duration 7.4y → 7.1y (closer; step 2 finishes it) Annual coupon income +$170k Next coupons: Jan 15 · $41k, Apr 1 · $44k

See other candidatesDeploy less

The rebalance

One coupled set of trades — the sell fixes duration, the trim fixes concentration, the buy redeploys the trim. Figures assume step 1's buys. Change any line and the set re-solves.

2 sells · 1 buy · turnover $1.25M

Brings duration from 7.1y to 6.6y and the concentrated issuer from 12.3% to 9.1% in one pass.

Approve the rebalance

	Bond	Par	Price	Coupon	YTW	TEY	S&P	Maturity	Eff. dur.
SELL	Riverbend Regional Med Ctr Rev 76674RMK5 · longest position · est. gain +$4.2k, long-term	$800k	102.31	5.25%	3.62%	5.15%	A	2041	9.8y
SELL	Lakeshore Metro Transit Auth Rev 51242TGH8 · partial, trims issuer to 9.1% · est. gain +$1.1k	$450k	100.87	5.00%	3.51%	4.99%	A+	2035	6.9y
BUY	Eastport Water & Sewer Rev 27788QEF3 · new issuer, 1.8% of account	$450k	99.92	4.75%	3.44%	4.89%	AA−	2034	6.3y

Duration 7.1y → 6.6y in range Issuer 12.3% → 9.1% under cap TEY → 4.52% Wtd rating AA− unchanged

Adjust a line and re-solveShow the math

Approve both — stage all five orders Total turnover $4.65M · all six mandate checks in range after · annual coupon income $1.02M → $1.19M. Nothing trades until orders are placed.

Proposals are built from live dealer inventory screened against this account's mandate; every buy carries current platform research and no adverse news. Prices are this morning's offers and evaluated closes; tax-equivalent yields use this account's tax profile. Sell gains are estimates from lot cost basis at today's marks.