The US yield curve continues to flatten. Currently, 5-year and 30-year are down 7 basis points and the 10-year is down 8 basis points. If 10-year yields stay at current levels, this would be the largest daily decline in yields since July. And if yields fall further from here, we could be looking at the largest daily decline of the year (yields dropped 9 basis points on 1/10). Note, we are only 7 basis points from the low for the year.