The most likely range for 3-month bill yields is the 1% to 2% range, unchanged from last week. The probability of being in this range is only 0.03% higher than the probability of the 0% to 1% range.
The level of 1-month forward rates implied by the current Treasury yield curve ranges from 4% to 6% for 20 years. The simulated short term rates drop more quickly than these forward rate levels ...