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Yield Curve Debate

A longer-term picture will put the steepening in perspective.

10-Year Minus 2-Year Treasury Yield

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The yield curve has not inverted this time. But what if it doesn't. There is no universal law that says the yield curve will invert before a recession. Look at Japan for proof.

With so many eyes on the yield curve flattening, perhaps it doesn't.

Mike "Mish" Shedlock