Yield curve
The line joining yields on government bonds of different maturities, from months to 30 years. Normally longer bonds pay more. When short yields are above long ones, the curve is 'inverted', often read as markets expecting rate cuts ahead.
Example
In early November 2026 the US 10-year yield, 4.84%, was above the 2-year, 4.46%: a normal, upward-sloping curve.
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