November 8, 2019
The U.S. Treasury yield curve from 3-month to 10-year had been inverted since the end of May with the yield on the 10-year Treasury bond being below the 3-month treasury bill. Since the yield curve has inverted before every recession since 1975, the sustained inversion rightfully had investors nervous. The yield on the 10-year Treasury spiked higher in November with the yield jumping from 1.70% to 1.93%.
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