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Without much fanfare, an interesting development has occurred in the bond market in October: the Treasury yield curve "un-inverted." I can't help but to think back to May of this year when the U.S. Treasury (UST) 3-month/10-year note spread fell into negative territory for the first time since 2007 and the news took center stage. Arguably, the heightened news coverage was warranted, given the inverted yield curve's prior history of forewarning of potential recessions. This raises the question - does the un-inverted curve now flash the all-clear signal for the U.S.