UST rates since 1995 shows that 30yr MMD historically tends to move at about 67.5% of 30yr UST yield movements Positive MoM Change in 30y UST vs. MMD(2) MoM change in 30y MMD 0.8% 0.6% 0.4% 0.2% 0.0% Regression: AMMD = 67.5% • RUST 0 1:1 movement O 0 Historical Regression 0 0.2% 0.4%