Investors have invested a record $600 billion into global bond funds this year, capitalizing on some of the highest yields in decades ahead of an uncertain 2025. With inflation easing, central banks have lowered interest rates, encouraging investors to lock in relatively high yields. This shift has led to a strong year for bonds, reversing the $250 billion outflow from fixed-income funds in 2022. Fixed-income markets are benefiting from the highest yields seen in nearly 20 years.

The U.S. Department of Energy (DOE) announced that applications are open for the 2025 Renew America's Schools Prize. Administered through the Office of State and Community Energy Programs (SCEP), this investment will deploy an anticipated $90 million to fund energy improvement projects that lower energy use and costs, improve indoor air quality, and create healthier learning environments in American school facilities.

The Toledo Museum of Art is set to enhance its visitor experience with upgrades to galleries, seating, parking, and accessibility. Additionally, the project includes crucial HVAC improvements to safeguard the collection and reduce its carbon footprint. Planned for 2025, the HVAC upgrades will be funded through tax-exempt Property Assessed Clean Energy (PACE) bond financing, provided by the Columbus-Franklin County Finance Authority. This collaboration also involves the Toledo-Lucas County Port Authority and Cleveland-Cuyahoga County Port Authority, showcasing Ohio's regional Port Authorities working together on statewide projects.

U.S. Department of Agriculture (USDA) Secretary Tom Vilsack announced $78.3 million in partially forgivable loans for clean energy projects through the Powering Affordable Clean Energy (PACE) program to help lower electricity bills for households, expand reliable access to renewable energy and create jobs for rural families, small businesses and agricultural producers. The funding for USDA's PACE program is from the Inflation Reduction Act, which partners with rural communities to deliver clean, reliable, and affordable energy.

CDFA congratulates Matthew Galloway, Economic Development Coordinator for the Village of Roselle, on graduating from the Development Finance Certified Professional (DFCP) program. Mr. Galloway, an experienced municipal professional in economic development, is the primary liaison to the business community, leading redevelopment efforts and overseeing projects to foster a thriving business environment.

Some bond traders are betting that the Federal Reserve will signal deeper interest-rate cuts next year than the market expects. U.S. Treasuries gained ahead of the Fed's policy decision, with a quarter-point rate reduction almost certain. The focus is on the Fed's quarterly projections. Despite sticky inflation, the market anticipates fewer cuts, with swaps pricing in only a half-point easing. However, some traders believe the market is too conservative and that the Fed will stick more closely to its September projections.

The Biden-Harris Administration announced approximately $2.5 million in funding available to support communities and their partners in higher education work together to advance community-driven projects, strengthen climate resilience, and build capacity for communities to tackle environmental and climate challenges. The U.S. Environmental Protection Agency's UPLIFT Climate and Environmental Community Action Grant will advance collaborative efforts to achieve a healthier, safer, and more prosperous future for all.

Members of Donald Trump's circle are proposing dramatic changes to U.S. bank regulation, including eliminating the CFPB and abolishing the FDIC. While some ideas may require Congressional approval, it is clear that certain members of the new administration seek to overhaul financial services regulation. This could lead to lighter scrutiny, fewer rules, and less stringent requirements as they aim to reshape the federal government and cut spending.

The Department of Housing and Community Development is seeking an experienced and self-motivated accounting professional to join our Energy Efficiency programs team. The Fiscal Manager assists the Program Managers in the implementation of program operations to support the Housing and Building Energy Programs. This position is responsible for the day-to-day accounting, analysis, and fiscal compliance for all Housing and Building Energy Programs (HBEP aka "CDA-Energy") programs. Duties include collecting documentation for reporting and audits, examining accounting data, making recommendations to improve accuracy, identifying process improvements, collaborating with other program and accounting department staff, acting as the primary point of contact for accounting and finance related inquiries during any audit related activities, inspecting budgets and expenditures, reviewing purchase orders and balances, preparing accounting statements, preparing reconciliation of expenditures, etc.

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