If you’re invested in the stock, bond, or money markets in any way, you’ll know that markets go up, and they go down.
At its meeting today (Monday), Belleville city council learned that the city’s total investments had actually lost a little money in the last quarter when compared to the three months prior.
As of June 30, Belleville had investments worth almost $79,390,000. However, on March 31, their value was a little over $79,400,000.
The tiny loss was caused by the interest rate sensitivity of some investments.
Meanwhile, in the 12 months ending June 30, the city earned almost $686,000 in interest.
In the year before, earned interest was lower, at close to $552,000.