The beaten to a pulp yield curve has been quietly rising the last few days.  Here is today's view of a gentle rise as nominal yields on all durations decline.  If 2014's main macro trends (for example, stocks up, gold down) are to continue in 2015, the curve would most likely keep dropping.  A problem being that there is a lot of risk vs. reward built into that rosy view now, considering how far the curve has already dropped.

10, 5 & 2 year yields from Bloomberg