The US Treasury 10y-2y yield curve descended further into inversion at -82 basis point, the worst since 1981.
This is not a good sign, since the 10Y-2Y curve typically inverts just prior to a recession.
The current US Treasury curve is currently humped at 1 year, then declining rapidly. The swaps curve is peaking at 9 months, then declining rapidly.
The Fed Funds Futures market is pointing to a peak Fed Funds rate of 5% at the May 3rd FOMC meeting.
Yes, a recession is headed our way.
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