NEW YORK (MarketWatch) - Treasurys were lower in early trade Tuesday after the spread between the 2-year note and the 10-year note briefly inverted for the first time in five years.
An inverted yield curve occurs when short-term maturities pay a higher interest rate than longer-term maturities.
Such an event has typically foreshadowed a noticeable downturn in the economy and, usually, a recession. With an inverted yield curve, banks can no longer make money by borrowing short-term money and lending it at longer terms.
(food for thought...)
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