For the past week, 10-year Treasury rates remained unchanged. Over the last two weeks, the net change has decreased by 21bp.

The red line in the attached chart represents current rates, while the green line shows rates from one week ago. Longer-term rates have increased.

For terms of 1+ years, the Yield Curve is positive. As the Fed decreases its Fed funds rate, short-term rates will decline, and the yield curve will return to a normal historical positive slope.

We are seeing a positively sloped yield curve due to a combination of the Fed cutting short-term rates and the market commanding higher long-term rates.

Bill Knudson, Research Analyst LANDCO NEXA