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Currently, the 3-month T-Bill is at 0.05%; 2-year, at 0.33%; 5-year, at 1.20%; and, the 20-year is at 3.07% <br />see yield curve below). As depicted below, there is not much yield to be gained in the shorter term <br />investments. <br />The overnight rate is currently at 0.00% to .25%. Although there have been some signs that a recovery may <br />be in the early stages, there is not much projected movement until 2014, or possibly 2015. We will continue <br />to focus on laddering the portfolio to maintain a constant cash flow and a liquid 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 />2 <br />