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Yield Curve <br />4.00% <br />3.00% <br />2.00% <br />1.00% <br />0.00% <br />Treasury Bills <br />1 year ago3 months agocurrent <br />At the MarchFederal Open Market Committee meeting, the Fedunanimouslyincreased the target rate to <br />1.50% to 1.75%. Although economic growth was weaker than expectedfor the first quarter of 2018, the <br />economic outlook remains strong. Indicators are optimistic based on buildinginflationanda strengthening <br />labor market. The tax cuts passed this past December are anticipatedto aid economicgrowth, as well. <br />While staff continues to monitor rates and economic conditions,the strategy for the portfolio will,as <br />always,focus on ladderingto pick up yield along the curve and maintaininga constant cash flow and liquid <br />position. <br />2 Year T-Note <br />8.00% <br />6.00% <br />4.00% <br />2.00% <br />0.00% <br />In summary, we will continue to invest the City’s funds in conservative investments, as authorized by the <br />Public Funds Investment Act, always keeping in mind Safety first, and then Liquidity and lastly Yield. <br />3 <br /> <br />