US Treasury yields on Monday hit their highest level since the Federal Reserve began raising interest rates in 2004. The move, which pushed the yield curve inversion to its narrowest in weeks, triggered speculation that the unusual state might be about to end.
Longer-dated yields are usually higher than short-dated ones since investors charge more for lending for longer. Any inversion, where longer-dated yields are lower, traditionally implies the market is pricing in low returns as the result of a probable economic slowdown.
