Yield Curve’s Dark Vision for Growth Is Backed by Factories Slump
- Slide in 10-year yield pins key segment of curve in inversion
- T. Rowe’s Bartolini says rates market forcing the Fed to act
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The evidence to support what the Treasury yield curve has been saying about the likelihood of a recession is starting to stack up.
U.S. traders back from their final summer holidays got a jarring welcome Tuesday, as data showing an unexpected slump in U.S. factory output sent yields sliding again. The moves entrenched the inversion in parts of the curve that have proven reliable harbingers of recession.