ISM YoY and U.S. 2+10-Year Bond Yield YoY (Leading Indicator)
The U.S. 2+10-year bond yield YoY (inverted) tends to lead the ISM YoY by 18 months, suggesting that the growth momentum is expected to fade through H1 2022.
Image: Nordea and Macrobond
The U.S. 2+10-year bond yield YoY (inverted) tends to lead the ISM YoY by 18 months, suggesting that the growth momentum is expected to fade through H1 2022.
Image: Nordea and Macrobond