For the past week, 10 Year Treasury rates were up 10bp. Net change in 12 weeks decreased 13bp

Red line are current rates while green line is one week ago. For longer terms, rates changes were up ~11bp while 2 year was 13bp. For terms 2+ years, the Yield Curve remains positive. 1 month is 35bp above 1 year. Even if the Fed decreased Fed Funds rate by another 25bp, the very short-
term rates would still be higher than longer term. This assumes NO change in ANY longer-term rates from further Fed reductions..

Bill Knudson, Research Analyst LANDCO NEXA