In inversion of US treasury yields, a recession is foretold

As the new year approaches, there are fears of recession in many of the world’s top economies, including the United States, the biggest and most consequential of all. The US does look headed for a recession — a key pointer is the inversion of US treasury yields.

What is a recession, to begin with?

A recession typically involves the overall output in an economy contracting for at least two consecutive quarters, along . . .