So much for the yield curve uninverting ...Middle East

That's left 10s at 4.23% from a high of 4.66% on Feb 12 and 4.80% in mid-January. Critically, that has 10-year yields now below the bottom end of the Fed's 4.25-4.50% range and 3-month t-bill rates at 4.30%. That's an inversion of the yield curve which is a classic front-runner of a recession.

h/t @Econ_Parker

This article was written by Adam Button at www.forexlive.com.

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