Main yield curve inverts as 2-year yield tops 10-year rate, triggering recession warning
- Earlier Wednesday, the yield on the benchmark 10-year Treasury note was at 1.623%, below the 2-year yield at 1.634%.
- The last inversion of this part of the yield curve was in December 2005, two years before a recession brought on by the financial crisis hit.
- A recession occurs, on average, 22 months following such an inversion, according to Credit Suisse.