Subject: Re: Arezi Ratio for Mar 3
Note that the yield curve, the ratio of short and long term treasuries (3 month vs. 10 year) has become slightly inverted. This time it's not because the Fed has raised short term interest rates - it has not. It's because the yield on 10 year treasuries has dropped - 0.53% in the last seven weeks. It's a warning signal for a possible recession.

Elan