 The very front end of the US Treasury curve is about to move up, with Fed funds to settle around 4.33. As you can see, thats higher than anything beyond 1-year, prompting a wide inversion in 3m bills to 10-years, which is a benchmark that many at the Fed watch as a recessionary indicator. For their part, some of them have now brushed that off because of skews around inflation or have shrugged it off as a sign that only a mild recession is coming.But I think 2s10s might be more... 