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Intermediate

Yield Curves: Slopes, Inversions, and Context

What 2s10s moves mean — and what they do not guarantee.

4 Lessons8m total

A yield curve plots yields by maturity. Steep curves often accompany growth or inflation expectations; flat or inverted curves can signal tighter financial conditions or anticipated cuts further out the curve.

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Course Overview

What 2s10s moves mean — and what they do not guarantee.

What You'll Learn

Core concepts explained with market context
Practical examples tied to real instruments
Risk-aware framing — educational only
Next-step links across the VegaDeck curriculum

A yield curve plots yields by maturity. Steep curves often accompany growth or inflation expectations; flat or inverted curves can signal tighter financial conditions or anticipated cuts further out the curve.

Inversions historically preceded some recessions, but timing and false signals exist. FX and equity channels transmit curve moves differently across regimes.

Use primary market sources for yields and state the date of your snapshot. VegaDeck does not forecast recessions.

Educational only · not investment advice · Risk disclosures

Curriculum

7 Lessons · 56m
1Central Banks 101 for Macro ReadersPolicy rates, forward guidance, and balance sheets without trade calls.8m
2Inflation vs Growth Narratives in MacroHow markets bucket CPI surprises into policy paths.8m
3Labor Market Data: What Desks Actually WatchPayrolls, unemployment rate, wages — and revision risk.8m
4Oil Prices and FX: A FrameworkPetrocurrencies, terms of trade, and regime shifts.8m
5Reading the Economic Calendar Like a Risk ManagerConsensus, revisions, and what “priced in” means — not a signal service.8m
6Sentiment and Positioning SurveysCOT, fund surveys, and contrarian pitfalls.8m
7Yield Curves: Slopes, Inversions, and ContextWhat 2s10s moves mean — and what they do not guarantee.8mContinue Learning

Course Resources

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Educational only · not investment advice · Risk disclosures