Yield-curve recession indicator flashes red as 10-year yield dips below 3-month
The yield curve as measured by the spread between the 3-month Treasury bill tmubmud03m and the 10-year note TMUBMUSD10Y, -3.13% inverted for the first time since 2007, following a sharp rally in longer-dated notes. The spread between the two maturities stood at around negative 2 basis points. On Friday, the 10-year note yield fell nearly 10 basis points to 2.444%, while the 3-month bill held flat at 2.467%, Tradeweb data show. Bond prices move inversely to yields.
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