Yield Curve 10Y-2Y and U.S. ISM Manufacturing Index
Chart suggesting that the U.S. 2+10Y bond yield YoY (inverted) tends to lead the U.S. ISM Manufacturing Index (YoY) by 18 months. U.S. PMI could bounce back in 2020.
Image: Nordea and Macrobond
Chart suggesting that the U.S. 2+10Y bond yield YoY (inverted) tends to lead the U.S. ISM Manufacturing Index (YoY) by 18 months. U.S. PMI could bounce back in 2020.
Image: Nordea and Macrobond