Treasury Yield Curve Slope Turns Positive

The US Treasury yield curve slope turned positive across all maturities today.  The rise is monotonic, that is, every point on the curve is higher than those for shorter maturities.  

US Treasury Daily Yield Curve Rates

The yield curve was the subject of a lot of media attention last year when it first inverted; Financology wrote about it then; see for example Yield Curve Slumps.  As we pointed out at the time, it implied economic and financial weakness some time ahead, and that an uninversion of the curve would not nullify the signal.  That continues to be the case; today the curve finally completely uninverted but the economic and financial recovery is still some time off.

For a more about the outlook, see Black Monday.

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