A yield curve spread that is created when the 10-year U.S. Treasury note futures contract is sold and the 30-year bond futures contract is purchased, often on the Chicago Board of Trade. This spread also can be created in the cash or repo (repurchase) market. Investors who expect interest rates to rise and thereby steepen the yield curve for the longer-dated maturities would purchase the note contract and sell the bond contract in a certain proportion. If interest rates are expected to move lower for shorter-dated maturities and thereby cause the yield curve to invert, then the bond contract would be purchased and the note contract sold.