The spread between the yield on the 10-year United States Treasury note and the two-year note was the highest since 1981 on Monday. This is known as a inverted yield cure. It is widely believed that a recession usually follows a period during which short-term Treasury yields are persistently higher than their longer-term counterparts. The protracted weakness in the US manufacturing sector has seemingly reaffirmed traders’ fears and affected bond trading. The return on the 10-year Treasury declined 0.6 basis points to 3.813% at 10:48 am ET. The yield on the two-year note rose by 1.1 basis points to 4.888% at the same time. The return on the 30-year bond decreased by 1.5 basis points to 3.839% a minute later. NN: This will end in another great depression.