The yield curve is almost on the verge of inversion. This is the markets way of saying that the Fed has overshot on the rate hikes and who knows the next move is a rate cut?

US 10-Year minus 2-Year Yield… Feb ’09: 1.92%

Feb ’10: 2.85%

Feb ’11: 2.77%

Feb ’12: 1.64%

Feb ’13: 1.72%

Feb ’14: 2.43%

Feb ’15: 1.44%

Feb ’16: 1.04%

Feb’ 17: 1.24%

Feb ’18: 0.71%

Today: 0.14%