Laserfiche WebLink
At the end of thethirdquarter, the City’s portfolio consisted of 67% of the portfolio maturing overnight,3% <br />of the City’s portfolio matures in 1-12months,14% maturing in 12-24 monthsand 16% maturing beyond <br />two years. <br />Currently, the 3-month T-Bill is at0.04%; 2-year, at0.45%; 5-year, at1.68%; and, the 20-year is at3.15% <br />(see yield curve below).A year ago, the 20-year treasury was yielding 3.07%.Rates have fluctuated slightly <br />on the long end; however, rates remain stagnant on the short end. <br />Yield Curve <br />4.00% <br />3.00% <br />2.00% <br />1.00% <br />0.00% <br />Treasury Bills <br />3 months agocurrent <br />The most currentovernight rate was set on December 16, 2008 at 0.00% to 0.25%.The target funds rate is <br />projected toremain unchanged through 2014.The consensus among economists is that the FedFunds rate <br />may slowly start to increasebeginningin the spring of 2015, although that highly depends on the health of <br />the economy.We will continue to focus on laddering the portfolio to maintain a constant cash flow and a <br />liquid position. <br />2 <br /> <br />