📝Three-Month Yield Is Closing The Gap to 10-Year: Barclays

The gap between the 3-month and the 10-year yield, a good leading indicator of a recession, is starting to close, the 3-month currently at 1.99%. For June CPI we are forecasting an increase of 1.2% M/m and 8.8% Y/y, if in line, this would not change expectations of a 50 to 75bps rate hike from the Fed. - Barclays