Over the last week, Treasury 2-year yields moved to 4.25% this week from 4.1% last week. At 10 years, this week’s yield is 4.4%, compared with 4.15% last week. As a result, the current 2-year/10-year ...

The most likely range for 3-month bill yields is the 1% to 2% range, unchanged from last week. The probability of being in this range is 0.08% higher than the probability of the 0% to 1% range.