The yield curve flattened across the board following the December 19 FOMC rate hike decision.
- The December 18 level is from Fred, the St. Lois Fed repository.
- The "Level Today" column is a spot reading at the moment, approximately 1:00 AM central, December 20, 2018.
- The 30-year long bond yield is 2.97% after an extended fake-out trip above 3.0%.
- The 5-year is inverted with the 3-, 2-, and 1-year yield.
- The 3-year is inverted with the 2- and 1-year yield.
- The 2-year is inverted with the 1-year yield.
Don't kid yourself.
Recession is coming. This may be all the signal you get.
I don't care what the Fed does or says at this point: It's Too Late to Matter.
Mike "Mish" Shedlock