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Onset of recession may take longer than expected after yield curve inverts

December 10, 2018 9:14 AM
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(Reuters) - The onset of a U.S. recession could take longer than usually thought after key points of the Treasury yield curve invert, as a surge in U.S. short-dated debt issuance has altered the dynamics of the Treasury market and other indicators show an economic downturn is farther off.

As the Trump administration ramps up debt sales to cover a budget deficit projected to hit $1 trillion next year, it has crowded the front of the yield curve with far more new bonds than the back end.

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