10Y-3M Yield Curve Inversion and S&P 500 Operating EPS

The inversion of the yield curve between 3-month and 10-year Treasurys is not good news for S&P 500 operating EPS  (90D means 3-month T-bill). The 50 day moving average removes false signals since 1967.

Image: Stifel

10Y-3M Yield Curve Inversion and S&P 500 Operating EPS