US yield curve is flattening, but China's curve is steepening

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Bloomberg article

This article just up on Bloomberg points out that for those people who are worrying about a flattening US yield curve indicating a recession for the US should look at China's yield curve. Theirs is steepening. Even though mainland yields have been falling this year, the shorter rates are dropping at a faster rate. The trend may have further to run. On Thursday we get CPI and PPI data out with CPI expected to slow and PPI holding near the years lows...