Follow the Fed: Treasury impact summary – July 2026
Following a split FOMC vote and stubborn inflation, Nigel Owen and Glen Stone explain why the market is now leaning toward a September hike rather than a cut.
Lean finance teams, restricted reserves, donor expectations, and governance scrutiny. TreasurySpring gives not-for-profits and NGOs a simpler way to diversify surplus cash and earn returns – without compromising on safety.

Built to meet the demands of not-for-profit finance teams.
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"With TreasurySpring, we can now invest our full cash balance, withdraw only what we need on payment day, and keep the rest working for us – all with next-day liquidity and none of the operational complexity we'd expect from a wholesale market solution. Better returns, better diversification, and better visibility, without adding any burden to our treasury team."
Strict treasury policies can make it hard to access products beyond basic bank deposits, even when safer or higher-yielding alternatives exist.
Cash sitting with one or two banks, often unsecured, exposes the organisation to concentration risk that trustees and auditors increasingly scrutinise.
UK Treasury Bills. The repo market. The safest homes for your cash are often gated behind infrastructure and connectivity that you don't have.
One seamless, digital onboarding elimates manual processes, freeing lean teams to focus on core operations. From day one, you reach 120+ investment-grade counterparties, without the need to manage multiple banking relationships.

Spread reserves across governments, SSAs, and secured instruments. Each Fixed-Term Fund (FTF) is segregated and bankruptcy-remote, so you carry no credit risk to TreasurySpring or its clients – and UK Government T-Bills, the ultimate risk-off home, are a click away.

Every product is investment-grade, so capital preservation comes first. All yields and maturity amounts are net of fees, and every transaction sits in a fully documented process built for board and trustee scrutiny. Demonstrate prudent stewardship of donor funds with a clear paper trail.

Economies of scale and broad market connectivity deliver returns most not-for-profits couldn't reach on their own, without straying outside a conservative treasury policy. And because you choose your counterparties, you are free to steer capital toward SSAs and building societies, avoiding fossil fuel financing while still putting reserves to work.

Keep restricted funds working in ring-fenced, investment-grade vehicles while they await deployment.
Earn yield on operating reserves without locking up liquidity or straying outside trustee-approved policies.
Deploy incoming funds from the moment they land – with terms from one day to one year.
Access Fixed-Term Funds (FTFs) through our intuitive portal, connect the tools you already use, or use your own systems via our public API. No new infrastructure required.
Sharp insights from some of the sharpest minds in treasury – combining deep experience, fresh thinking, and a healthy appetite for doing things differently. Your place for smart, thought-provoking perspectives on capital markets, treasury, and the changing world of cash management.

Following a split FOMC vote and stubborn inflation, Nigel Owen and Glen Stone explain why the market is now leaning toward a September hike rather than a cut.
