10-Year Note futures moved lower for a third consecutive session, reaching a three-week low near 112'08. The back end of the curve experienced continued selling pressure driven by concerns regarding embedded inflation and stronger-than-anticipated GDP data from late December. While the short end remained relatively stable, the 10-year yield rose four basis points to 4.19%. This dynamic contributed to further curve steepening, with the spread between the 2-year and 10-year widening to 71 basis points, the highest level in several years. Selling pressure remained heaviest on the long end of the curve, including 20-year and 30-year maturities.