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Source: Bloomberg Source: Bloomberg <br />0.0% <br />0.5% <br />1.0% <br />1.5% <br />2.0% <br />2.5% <br />US Treasury Note Yields <br /> 2-Year <br /> 5-Year <br /> 10-Year <br />Yield (%)0.0% <br />0.5% <br />1.0% <br />1.5% <br />2.0% <br />2.5% <br />US Treasury Yield Curve <br />Mar-22 <br />Dec-21 <br />Mar-21Yield (%)Bond Yields <br />At the end of March, the 2-year Treasury yield was 217 basis points higher, and the 10-Year Treasury yield was about 60 basis points higher, year- <br />over-year.The spread between the 2-year Treasury yield and 10-year Treasury yield declined to zero at March month-end compared to the <br />average historical spread (since 2003)of about 130 basis points.While the flat yield curve bears watching over the longer run,the spread <br />between 3-month and 10-year treasuries is still steep at about 185 basis points, which indicates likely economic growth in the coming year. <br />12