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Yield Curve Race to Inversion

US TSY FUTURES
Recession concern -- or measure of confidence in Fed managing a soft landing? Tsy yield curves bear flattening in a hurry! After starting off the session around +12.17, the 5s30s curve slipped below 2.0 recently to 1.6632 low -- brings it back near early 2006 levels now when pair inverted from Feb-March to low of -12.669 on Feb 27, 2006.
  • Curve has bounced slightly to 3.172 (-10.718). Meanwhile, 3s, 5s and 7s extending inversion vs. 10s, 5s10s at -8.125 vs. -9.094 low.
  • See MNI Policy main wire Brief: Fed Paper Dismisses Yield Curve Inversion Signal at 1100ET. Link to Fed paper: (Don't Fear) The Yield Curve, Reprise
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