Very interesting...

The spread is narrowing between a 3 month and 10 year treasury.

Historically that has been a very important spread to watch regarding recessions.

Looking at this chart below, when spreads drop below 0 a recession is imminent.

In fact, it's happened the last 3 recessions:

(Source:  https://twitter.com/RyanRadloff/status/1114126987684192256 )

This will be the first time it has happened since the great recession.

Bitcoin didn't exist back then.

This will be the first time it has existed since then.

Interesting to see how it behaves when this next recession hits.

And it will hit...

They always do.