2-Year Note futures faced significant selling pressure, falling to a one-month closing low of 104.08. The decline was driven by stronger than anticipated economic data, including robust consumer sentiment, which suggested a resilient footing for the U.S. economy despite a slight softening in the labor market. The 2-Year yield rose five basis points to 3.54%, its highest level since early December, causing the yield curve to flatten as the spread between the 2-Year and 10-Year narrowed to 63 basis points. Stability on the back end of the curve was attributed to potential market activity from Fannie Mae and Freddie Mac, contrasting with the active selling seen on the short end of the curve.