ACI Dealing Certificate (#14)

The columns below list short-term cash rates on 3rd April and 3rd F1ay 3rd April 3rd May

Describe the shape of the short-term segment of the yield curve on 3’ April using market terminology. In addition, describe the change in the shape of the curve between 3rd April and 3rd May.

Positive, steepening
Positive, flattening
Inverted, steepening
Inverted, flattening