quoting Raghuram Rajan via Bloomberg Quint
Is the flattening yield curve in the U.S. bond market sending signals of a looming recession? That’s still not clear, Former RBI Governor Raghuram Rajan wrote in the Financial Times. The difference or the spread between the yield on two-year Treasury bills and 10-year benchmark bond is narrowing. It “has compressed to less than 40 basis points, he wrote.