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money market accounts. We anticipate we will have two large tax settlements each year, <br /> along with the regularly-scheduled debt service payments. <br /> The Treasury yield curve has increased across all terms from December 29, 2017,with the <br /> greatest increase in the yield curve around the 3 year term and narrows as it extends out <br /> beyond 10 years. Credit quality certificates of deposits (CD's) continue to offer the best <br /> investment option,which have been several basis points over agencies. Three-month notes <br /> are yielding 1.73% and the 10-year notes are 2.74%. <br /> Treasury Yield Curve <br /> 3.50% <br /> 3.00% <br /> 2.50% <br /> 2.00% 12/29/17 <br /> 1.50% 3/29/18 <br /> 1.00% <br /> 0.50% <br /> 0.00% <br /> 1 mo 3 mo 6 mo 1 yr 2 yr 3 yr 5 yr 7 yr 10 yr 20 yr 30 yr <br /> Cities generally use a short-horizon benchmark such as the two-year Treasury Bill (3/29 — <br /> 2.27%,with an increase from 1.89% on 12/29/17) or some similar measure. Our current <br /> portfolio yield is roughly 2.42%which is several basis points over the treasury yield <br /> benchmark. <br /> Our primary reserve account is our 4M Fund which is a money market account where many <br /> cities pool their funds. It currently yields 1.39%with daily withdrawal privileges. The city <br /> strives to maintain a strong diversification portfolio so liquidity and exposure risk are <br /> reduced. <br /> Attachments <br /> ■ Investment summary <br />