Capital Market Expectation (Difference between ST rate and Bond yield)

CFA Level III Portfolio Management
#1

Hello,

I am now studying Level 3 CME and now it is discussing about how business cycle affect ST and LT rates. Here I am confused when explaning about ST rate, gov bond yield and bond yields. I thought they are all the same. Can you please explain difference in these three?

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Thanks in advance!

#2

Bonds long duration, notes medium duration, bills shortest duration. Describing a situation flattening, and about to steepen