Beware!
It was only few days ago that we warned you about the partially inverted yield curve. Following the FOMC decision on Wednesday, and the remarks made by Jerome Powell during the press conference that followed it, we now feel that the "partially" is likely to be on its way to "fully".
Investors have grown skittish over the possibility of an inverted yield curve, which happens when short-dated bond yields are higher than their long(er)-duration counterparts.
As a reminder, an inverted yield curve - usually measured by the 10-2 Year Spread - has been