HomeMy WebLinkAbout03/16/2021 04C Investment Transactions Report February 2021 ti i..asxntntj kd
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BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. 4.C.
For Meeting of: March 16, 2021
ITEM TITLE: February 2021 I nvestment Transactions Report
SUBMITTED BY: Steve Groom, Director of Finance and Budget
SUMMARY EXPLANATION:
This monthly report is in compliance with RCW 35.39.032 which requires "The responsible official
or committee shall make a monthly report of all investment transactions to the city legislative
authority" A complete Treasury report is provided to City Council quarterly that provides a
complete position listing with further analysis, economic outlook and strategy updates.
ITEM BUDGETED: NA
STRATEGIC PRIORITY: Public Trust and Accountability
APPROVED FOR SUBMITTAL BY THE CITY MANAGER
RECOMMENDATION:
Review only. Submitted for routine transparency and accountability.
ATTACHMENTS:
Description Upload Date Type
Monthly In trr�ent Transaction p art / 1 0 1 r Mer�c
2
FINANCE
DATE: March 1 , 2021
TO: Mayor and City Council
FROM: Steve Groom, Finance Director
RE: February 2021 Investment Transactions
The investment transactions for February 2021 were:
Matured:
• None
Called:
• None
Purchased:
• None
The focus of investments now is to fill maturity gaps in a shortened (3-year maturity
horizon) ladder to minimize reinvestment risk subject to rates at any one point in time and
hedging against further decreasing rate exposure.
Options considered. During the current market volatility, the range of investment options
for 1- to 3- year maturities during February fluctuated slightly, as the Treasury yield curve
ranged between 0.06% to 0.34%. The 3-year area of the yield curve hovered between
0.17% and 0.24% then rose 10 basis points only in the last 2 days of the month.
Treasuries and agencies that benchmark their yield off Treasuries are the city's primary
investments outside the State Treasurers' Local Government Investment Pool. CDs
range from 0.05% to 0.15%. The LGIP has an average weighted maturity of about 45
days, and its yield was 0.12307% at 2/28.
This monthly report of all investment transactions complies with RCW 35.39.032 ("The
responsible official or committee shall make a monthly report of all investment transactions to the
city legislative authority').