
The Yield Curve Screamed Recession. What Happened?
The 10-year minus 3-month yield curve sent an unusually strong recession warning. The better lesson is not that the signal failed, but that probability is not prophecy.
Lee Bailey
Sep 12, 2026

The 10-year minus 3-month yield curve sent an unusually strong recession warning. The better lesson is not that the signal failed, but that probability is not prophecy.
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