It happened. Hallelujah. Or maybe better: Watch Out! Yield Curve Spaghetti.
This peculiar creature of an inverted yield curve.
The next recession, when it finally occurs, may be a different animal altogether.
The one-month yield is 21 basis points higher than CPI, not seen since 2009.
Ironically, after having lamented the flattening yield curve for a year, soothsayers now lament the steepening curve.
How does it compare to German, Japanese, and Chinese yield curves?
Will we see a “monetary shock?”