I want to share with you the latest edition of the Texas Family Office Association (“TFOA”) monthly economic update. The attached report includes a wealth of data and exhibits on the state of the USA economy and selected States. I’ve pasted below 10-Year expected returns for all asset classes and this month’s economic release calendar for your ease of reference. I hope you’ll find this useful…

1. Source: U.S. Bureau of Economic AnalysisSource: U.S. Bureau of Labor Statistics
USA Gross Domestic Product
USA Price Data
130.0
132.0
134.0
136.0
138.0
140.0
142.0
ConsumerPrice index
170
175
180
185
190
195
Feb-16
Apr-16
Jun-16
Aug-16
Oct-16
Dec-16
Feb-17
Apr-17
Jun-17
Aug-17
Oct-17
Dec-17
Feb-18
Producer Price index
110
115
120
125
130
Feb-16
Apr-16
Jun-16
Aug-16
Oct-16
Dec-16
Feb-17
Apr-17
Jun-17
Aug-17
Oct-17
Dec-17
Feb-18
Import Price index
110
115
120
125
130
Feb-16
Apr-16
Jun-16
Aug-16
Oct-16
Dec-16
Feb-17
Apr-17
Jun-17
Aug-17
Oct-17
Dec-17
Feb-18
Export Price index
The Texas Family Office Association
TFOA Monthly Report April 2018
Headquarters: Marc J. Sharpe
3640 Lake Street msharpe@hfoatx.com
Houston, TX 77098 Page 1
(T) 713-581-0448 © Texas SFO Association, LLC 2018

2. Monthly Economic Report
Source: U.S. Bureau of Labor Statistics
USA Employment & Unemployment Data
Headquarters: Marc J. Sharpe
3640 Lake Street msharpe@hfoatx.com
Houston, TX 77098 Page 2
(T) 713-581-0448 © Texas SFO Association, LLC 2018

3. Monthly Economic Report
Source: U.S. Bureau of Labor Statistics
This summary is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities and may not be used or relied upon
in connection with any offer or sale of securities. The information and statistical data contained herein have been obtained from sources that we believe to be reliable but in
no way are warranted by us as to accuracy or completeness.
USA Unemployment Rate by State (December 2017)
California Unemployment Rate (December 2017)
New York Unemployment Rate (December 2017)
12-mth Change in Unemployment Rate (Dec 2017)
Florida Unemployment Rate (December 2017)
Texas Unemployment Rate (December 2017)
Headquarters: Marc J. Sharpe
3640 Lake Street msharpe@hfoatx.com
Houston, TX 77098 Page 3
(T) 713-581-0448 © Texas SFO Association, LLC 2018

4. Monthly Economic Report
Source: U.S. Bureau of Labor Statistics
This summary is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities and may not be used or relied upon in
connection with any offer or sale of securities. The information and statistical data contained herein have been obtained from sources that we believe to be reliable but in no
way are warranted by us as to accuracy or completeness.
USA Twelve Month Change in Employment Across Various Industrial Sectors
Headquarters: Marc J. Sharpe
3640 Lake Street msharpe@hfoatx.com
Houston, TX 77098 Page 4
(T) 713-581-0448 © Texas SFO Association, LLC 2018

5. Monthly Economic Report
Source: Federal Reserve System Yields in percent Per Annum
USA Selected Interest Rates (April 2nd, 2018 )
Headquarters: Marc J. Sharpe
3640 Lake Street msharpe@hfoatx.com
Houston, TX 77098 Page 5
(T) 713-581-0448 © Texas SFO Association, LLC 2018
02-Apr-18
Selected Interest Rates
Yields in percent per annum
2018 2018 2018 2018 2018
Instruments Mar Mar Mar Mar Mar
26 27 28 1 2
Federal funds (effective) 1 2 3 1.68 1.68 1.68 1.68 1.67
Commercial Paper 3 4 5 6
Nonfinancial
1-month 1.85 1.89 1.84 1.86
2-month 1.90 1.87 1.88 1.89
3-month 1.95 1.99 2.02 2.02
Financial
1-month 1.75 1.87 1.87 1.86
2-month n.a. 2.07 2.07 2.01 2.03
3-month 1.92 2.20 2.24 2.21 2.31
Bank prime loan 2 3 7 4.75 4.75 4.75 4.75 4.75
Discount window primary credit 2 8 2.25 2.25 2.25 2.25 2.25
U.S. government securities
Treasury bills (secondary market)
4-week 1.68 1.66 1.62 1.60
3-month 1.76 1.74 1.70 1.70
6-month 1.90 1.89 1.90 1.88
1-year 1.99 2.04 2.06 2.03
Treasury constant maturities
Nominal 9
1-month 1.71 1.69 1.65 1.63
3-month 1.79 1.77 1.73 1.73
6-month 1.94 1.93 1.95 1.93
1-year 2.06 2.10 2.12 2.09
2-year 2.33 2.26 2.28 2.27
3-year 2.44 2.39 2.41 2.39
5-year 2.64 2.58 2.59 2.56
7-year 2.78 2.70 2.72 2.68
10-year 2.85 2.78 2.77 2.74
20-year 2.96 2.90 2.89 2.85
30-year 3.08 3.03 3.01 2.97
Inflation indexed 10
5-year 0.63 0.64 0.68 0.64
7-year 0.74 0.71 0.72 0.69
10-year 0.77 0.71 0.72 0.69
20-year 0.91 0.84 0.84 0.81
30-year 0.99 0.95 0.94 0.90
Inflation-indexed long-term
average 11
0.92 0.87 0.87 0.84