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Market Signal
10Y Minus 2Y Yield Spread
The 10Y-2Y spread is a classic recession and policy-expectations chart, especially when the curve shifts from flattening to re-steepening.
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Historical Context
Toggle the market-event markers above when you want to line recent regime shifts up with the signal.
How To Read It
- Direction matters, but the speed of the move often matters even more for equities, rates, and sectors.
- Falling long yields usually help duration-sensitive assets, while rising yields often pressure them.
- For the 10Y-2Y spread, re-steepening after deep inversion can matter more than the inversion headline itself.
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