'The curve inversion signal could be less powerful for recessions than in the past,' said Goldman Sachs.
The three-month to 10-year US Treasury yield curve, a bond market recessionary indicator, inverted for the first time since 2007 last week.
Recessions can take a long time after inversions and the proportion of the curve that has inverted is lower than in the past. While the three-month to 10-year Treasury yield curve inverting prior to the more watched two-year to 10-year curve is unusual, it's not a major cause for alarm, the note said.
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