New York | The latest eruption in the US-China trade dispute pushed a widely watched Treasury-market recession indicator to the highest alert since 2007.
Rates on 10-year notes sank to 1.74 per cent on Monday (early Tuesday AEST), close to completely erasing the surge that followed President Donald Trump's 2016 election. In early trading, they fetched as much as 32 basis points less than three-month bills, the most extreme yield-curve inversion since just before the 2008 crisis.
