Fears over a global economic downturn were intensified by disappointing data from China and Germany, sending bond yields tumbling to new lows and weighing on jittery stock markets.
Underscoring the rising concerns, the yields of US and UK 10-year government bond yields dipped below those of shorter-maturity debt for the first time since the financial crisis — an inversion of their normal relationship that has historically been a harbinger of economic recessions.
“I think that the US economy has enough strength to avoid [a recession]. But the odds have clearly risen and they are higher than I’m frankly comfortable with,” former Federal Reserve chair Janet Yellen told Fox Business.
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