Bill Gross: Forget the Treasury yield curve, watch the swaps curve

Gross notes that swaps curve has nearly inverted

Bill Gross from Janus Capital is on twitter noting that investors shouldn't be watching the Treasury yield curve but instead should be watching the swaps curve.

It's even flatter than the Treasury curve with 2s at 2.69%, 5s at 2.80% and 10s at 2.85% and then flat from there.

Gross says the swaps curve is indicative of corporate and household tightness and that it's close to recessionary levels.