Inverted Yield Curve

The one month T-bill is yielding 4.1%, three months 4.4%. We go out one year and it's 4.76%. Two years is 4.46%. And then if we go out the 10 years, the 10 year treasury bond yield is 3.69%. That's down from 4.07% at the beginning of the month. What that means is is that that yield curve is we plot those interest rates on a graph. It's downward sloping because shorter term interest rates are higher than longer term interest rates. In an inversion, investors expect short term interest rates looking out to three, four years to be lower than the art today.