"This Is A Significant Market Development": JPMorgan Spots A Rare "Bad Omen"

When it comes to timing the next recession - or the next Fed policy mistake - there are few signals that pundits rely more on than the shape of the yield curve, which, as we have covered extensively in the past year, has bear flattened dramatically since 2015 as the Fed has hiked rates, with the 2s10s now just 50bps away from inverting at which point the countdownto both a recession and a bear market begins.