Morningstar’s headquarters in Chicago

CHICAGO–Talk of a flattening yield curve and what it portends for a recession has been increasing. The most notable example came a week ago when The New York Times pointed out that the last time the gap between two-year and 10-year US Treasury notes was roughly 0.34 percentage points was in 2007 “when the United States economy was heading into what was arguably the worst recession in almost 80 years.”