U.S. 2-year, 3-year, 5-year, 7-year, 10-year, 20-year and 30-year yields are all converging. Looks like a beautiful chart, just one thing …
These Treasury yields have almost converged three to six months before each of the past five recessions. This isn’t a good sign, but perhaps this time it is different. Another thing – this is a sign that interest rate increase expectations are falling.
Here are yields as of August 8, 2018