Wednesday, October 26, 2022

Boom!! 3Mo/10Yr Spread Inverts

 This is a recession-flag which is very accurate.

The last four days have seen 10Y yields plunged almost 35bps from their highs while the 3m bill yield has crept higher by around 12bps...

 Which has left the much-watched (and Fed-blessed) indicator of recessions (the 3m10Y Treasury yield spread) has finally gone negative... 

Chart here:

 

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