Talking rates, only because I have to
The inverted yield curve can be explained away as a consequence of pressure on the long-end. The historically low 10-year and also the 30-year are what I think the algos and humans are really focused on since that is where the inversion is coming from. Normally, it's rising rates on the lower-end from Fed tightening that presages a recession. Right now, the pressure is coming from overseas. Because of negative rates over there, our bonds are downright sexy over here. This does have a possible real-world effect, though,