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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 />3.0% <br />3.5% <br />4.0% <br />4.5% <br />5.0% <br />US Treasury Note Yields <br /> 2-Year <br /> 5-Year <br /> 10-Year <br />Yield (%)0.0% <br />1.0% <br />2.0% <br />3.0% <br />4.0% <br />5.0% <br />6.0% <br />US Treasury Yield Curve <br />Feb-23 <br />Nov-22 <br />Feb-22Yield (%)Bond Yields <br />At the end of February,the 2-year Treasury yield was 339 basis points higher,and the 10-Year Treasury yield was about 210 basis points higher, <br />year-over-year.The inversion between the 2-year Treasury yield and 10-year Treasury yield increased to -90 basis points at February month- <br />end versus -69 basis points at January month-end. The average historical spread (since 2003) is about +130 basis points. The inversion between <br />3-month and 10-year treasuries narrowed to -89 basis points in February from -115 basis points in January.The shape of the yield curve <br />indicates that the probability of recession is increasing. <br />12