Portfolio Managers Report 03/10/2023

Friday, March 10, 2023
MANAGING DIRECTOR: Scott Carrithers PORTFOLIO SALES AND SERVICE: George Morris • Chris Thompson • Sean Doherty • Kevin Doyle • Mark Tranckino Nicole Burczyk • Natalie Regan • Aaron Stoffer • David Farris • Lonnie Harris • Brian Schaff Josh Kiefer • Robert Schuyler • Tom Toburen • Aaron Hemphill • Jeff Macy • Todd Czinege

US Treasury Market
Date	1 mo	3 mo	6 mo	1 yr	2 yr	3 yr	5 yr	7 yr	10 yr	20 yr	30 yr
03/03/23	4.64	4.85	5.13	5.02	4.86	4.60	4.25	4.14	3.96	4.11	3.88
03/06/23	4.66	4.85	5.14	5.05	4.89	4.61	4.25	4.14	3.96	4.13	3.89
03/07/23	4.69	4.95	5.21	5.22	5.01	4.72	4.31	4.17	3.97	4.11	3.87
03/08/23	4.65	5.00	5.28	5.24	5.07	4.75	4.35	4.20	3.99	4.13	3.90
03/09/23	4.62	4.98	5.23	5.14	4.87	4.55	4.19	4.07	3.91	4.07	3.85

The data in the table above is static as of the time it was pulled, so rates may have changed. Treat all data in this table and PMR as indications only and availability is always subject to change.
This information was pulled manually from sources we believe to be reliable. New source, as of 12/12/2022, Bloomberg, LP. As of: close of business 03/09/2023

Fed Testimony

Earlier this week, Jay Powell testified in front of Congress in what used to be called the Humphrey-Hawkins hearing. In this address, he said that the Fed is prepared to speed up hikes if warranted and then clarified saying the amount of the March rate hike is data dependent. One can assume the data dependence will be looking at the Employment report that came out this morning and CPI on Tuesday. It is safe to say we will be looking at an upward bound Fed Fund rate of either 5% or 5.25% on March 22. The highest expected fed fund rate is currently 6% with many calling for 5.50%. This is important because we saw in January how quickly yields can move lower with an anticipated Fed pivot on the horizon. Please reach out to your Country Club Bank representative to discuss strategies designed to meet your banks individual needs.

Indications only, subject to change and availability.

This information is intended for institutional investors only. The material provided in this document/presentation is for informational purposes only and is intended solely for private use. Past performance is not indicative of future results. This material is not intended as an offer or solicitation for the purchase or sale of any financial instruments.

•Not FDIC Insured •No Bank Guarantee •May Lose Value