US 30-year yield falls below 3-month Treasury bill yield for first time in 12 years
The long end continues to rip in the US as 30-year yields fall 7.4 basis points to 1.96%. That has pushed the yield below the 3-month T-bill, which is at 1.97% right now.
That's the first inversion of 3-month bills to the long bond since 2007.
Here is a long-term look at the spread, including the two inversions that led to recessions.