Yes Dopey, flattening yield curves are also a major market warning sign of trouble ahead. Especially given the record level of outstanding debt globally (personal, corporate and sovereign debt) and the rising trend in bond yields since mid-2016 which have accelerated higher since late-2017 (which foreshadows rising interest rates).
Historically a flat or inverted yield curve has indicated a pending economic recession. But given the larger global debt position and rising yields the likelihood of worldwide credit crises and debt deflation grows higher by the day. This is a key fundamental economic story that mainstream economists and analysts continue to ignore - at their peril.
