Don't Read Too Much Into the Now Positively Sloping Yield Curve

The US yield curve has been back in positive territory for two weeks, and pundits are starting to notice. Yet, in a fascinating sign of sentiment, they aren't cheerful. Some warn the curve could re-invert. Others point out that the curve often turns positive again before a recession, supposedly putting us that much closer to doomsday now. But to us, these viewpoints read way too much into the yield curve's alleged timing signals while ignoring what it means in the first place.