Chris Dillow 

Yield curve warnings

Chris Dillow

Chris Dillow
Yield curve warnings

The US yield curve is like the curate’s egg: it’s good in parts. Although 10-year yields are comfortably above the Fed funds rate – a fact that has historically been a strong predictor of rising share prices and economic growth – five-year yields are below two-year ones, which points to falling share prices and output.

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