Global Yield Curve Inverts in Signal a Recession Is Brewing
- Fed speakers this week have pledged more monetary tightening
- Germany may already be in recession, Deutsche Bank says
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Global bonds joined US peers in signaling a recession, with a gauge measuring the worldwide yield curve inverting for the first time in at least two decades.
The average yield on sovereign debt maturing in 10 years or more has fallen below that of securities due in one-to-three years, according to Bloomberg Global Aggregate bond sub-indexes. That has never happened before based on data going back to the beginning of the millennium.