Inversions Normalizing..

Readers will see that the spread between the yields of the US Two Year Note and US Ten Year Note un-inverted earlier this month and saw that spread rise to a positive 13 basis points by quitting time on Friday.

The spread between the yields of the US Three-Month T-Bill and the US Ten Year Note remains deeply inverted (this is the most accurate predictor of recession we have), but look at the progress made in just the past few days.