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6.A. - Page 24 of 49 <br />REDWOOD CITY <br />2.5% <br />2.0% <br />1.5% <br />1.0% <br />0.5% <br />0.06 <br />A nol <br />For the Quarter Ended December 31, 2020 <br />Market Update <br />Short Rates Were Steady, but the Yield Curve Steepened in Fourth Quarter <br />U.S. Treasury Yield Curve <br />December 31, 2019 <br />September 30, 2020 <br />December 31, 2020 <br />v.v io <br />3 1 2 3 4 5 10 <br />M Y Y Y Y Y Y <br />Maturity <br />Source: Bloomberg as of 12/31/2020. <br />5% <br />4% <br />3% <br />2% <br />1% <br />3 -Year Treasury Yield <br />0.16% <br />0% <br />Dec -14 Dec -16 Dec -18 Dec -20 <br />PFM Asset Management LLC 32 <br />' <br />