the free market short rates  IRX have continued to go higher,  maybe indicating the fed will continue raising fed funds rates.  maybe even more than most people think.

currently at about 1.72,  above the feds 1.25-1.5 range.  

and since the long rates TYX have reversed, and started to head down again,  the yield curve is narrowing once again.

but remember, back in the 90's, the curve was narrow for a couple years before the markets crashed.