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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 from March 29, 2018,with the greatest increase in <br /> the yield curve in the 1 year to 3 year term and narrows as it extends out beyond 10 years. <br /> Credit quality certificates of deposits (CD's) continue to offer the best investment option, <br /> which have been several basis points over agencies. Three-month notes are yielding 1.93% <br /> and the 10-year notes are 2.85%. <br /> Treasury Yield Curve <br /> 3.50% <br /> 3.00% <br /> 2.50% <br /> 2.00% 3/29/18 <br /> 1.50% <br /> 6/29/18 <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 (6/29 — <br /> 2.52%,with an increase from 2.27% on 3/29/18) or some similar measure. Our current <br /> portfolio yield is roughly 2.47%,which is slightly less than the treasury yield 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 1.6%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 />