The spread between 3-month and 10-year Treasury notes has fallen below 10 basis points for the first time since 2007.
The three-month note yielded 2.468% around 10 am, while the benchmark 10-year was around 2.44%.
The spread, or yield curve, between the 3-month and 10-year Treasury notes just broke the longest streak ever of being above 10 basis points, or 0.1 percentage point. The two maturities were last below that level in September 2007, a run of 3,009 trading days, according to Bespoke Investment Group.
CNBC, Jeff Cox, 2019-03-21, “The Bond Market is Flashing its Biggest Recession Sign Since Before the Financial Crisis“