One of the most persistent indicators of a potential recession isn't flashing as brightly as it used to
Stocks are a hair’s breadth away from records and Treasury yields are soaring at a pace last observed years ago, a shift that investors say points to an unraveling of fear-driven bets that sent markets tumbling in August.
The yield on the 10-year Treasury note, which investors closely track because it helps set rates on everything from student debt to mortgages, is on course for its steepest one-month rise since January 2018. On Friday, the yield was 1.754%, compared with 1.469% at the start of the month.
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