Spread on 2- and 10-year Treasury yields shrinks to almost minus 80 basis points, remains at most inverted level in 41 years

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One of the bond market’s most widely followed recession gauges dipped further below zero on Wednesday, signaling deepening concerns about the U.S. economic outlook. The spread on 2- TMUBMUSD02Y, 4.496% and 10-year Treasury yields bx:tmumbusd10y shrank to as little as minus 79.5 basis points, remaining at its most inverted level in 41 years. The inversion was being driven by a continued drop in the 10-year Treasury rate, to 3.72%, as investors fret about China’s ongoing COVID-19 restrictions.

This article was originally published by Marketwatch.com. Read the original article here.

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