US Two-Year Yield Below 10-Year for First Time Since July 2022

It "disinverted". And apparently disinversion presages a recession. Just as inversion does.

People got out of stocks because of course they did. Their money had to go somewhere, so they put it into bonds -- short term bonds, driving up the price, and therefore lowering the yield. The bonds are short term because it's just parking the money, preparing to take advantage of the next market bubble.

Meantime, the Fed is going to keep doing what economists tell it to do: keep interest rates up while inflation is still above the target. But the stock markets want their free money, and if they don't get it, they'll throw a fit of pique.

All of which means diddly divided by squat when it comes to a recession. Maybe one is coming; maybe it isn't. This doesn't affect it at all.