A Recession Alarm Is Ringing on Wall Street

Wall Street’s most talked about recession indicator is sounding its loudest alarm in two decades, intensifying concerns among investors that the U.S. economy is heading toward a slowdown.

That indicator is called the yield curve, and it’s a way of showing how interest rates on various U.S. government bonds compare, notably three-month bills, and two-year and 10-year Treasury notes.

Usually, bond investors expect to be paid more for locking…