Today's jobs report eases recession worries—for now
. This is thought to be a very reliable leading indicator of recession. In general, one would expect long-term rates to be higher than short-term since, in order to earn them, you must give up access to your cash for longer periods. This is why a 12-month CD will almost always earn more than a 1-month CD. People are rightfully reluctant to give up control over their assets for a longer period.
Why, then, would those reverse? The theory is that this happens when investors believe that future economic growth will be significantly lower than it is today. A low long-term rate is sufficient to attract investors if the general assumption is thatThis development was driven by and added to a number of recent worrisome signals.
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