Feb 24, 2020 - Economy & Business

The yield curve makes its deepest inversion since October

Data: U.S. Treasury; Chart: Danielle Alberti/Axios
Data: U.S. Treasury; Chart: Danielle Alberti/Axios

The U.S. Treasury yield curve inverted again, with 3-month Treasury bills holding a higher yield (1.56%) than 10-year Treasury notes (1.46%).

The big picture: This is the second time the yield curve has inverted in a matter of weeks, and the third time in a matter of months. It's the deepest the yield curve has been inverted since Oct. 9.

Why it matters: Economists at the Fed call the 3-month/10-year inversion the "best summary measure" of economic downturn and a yield curve inversion has preceded every recession of the last 50 years within approximately six to 24 months.

Go deeper: The yield curve and what it says about the economy

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