For the umpteenth time in a matter of weeks, a recession indicator has started to flash. Bitcoin, which has begun to be classified as a “safe haven” asset, may stand to benefit from such a move in traditional financial markets.<\/p>\n
Over the past few months, the world’s analysts and investors have begun to fear a recession. While some are as optimistic as ever, calling for new highs to be established for the S&P 500, more and more data is hinting at an impending drawdown in traditional finance. Bitcoin, as aforementioned, might be the beneficiary of such a move.<\/p>\n
As pointed out this week by Twitter account “OddStats”, U.S. Treasury data shows that one-month Treasuries yielded more than all maturities through to the 30-year Treasury.<\/p>\n
What this means is that a short-term purchase of government debt had a higher yield than all long-term debt. For those with knowledge of basic economics, this makes close to no sense.<\/p>\n
\nSo, according to the US Treasury data, something very Odd happened today.<\/p>\n
The 1m Treasuries yielded higher than all longer maturities (thru the 30y). That hadn't happened in 12 years.<\/p>\n
In fact, it's only ever happened in 2006 and 2007 and today. pic.twitter.com\/fRqngDMIvv<\/a><\/p>\n
— OddStats (@OddStats) August 16, 2019<\/a><\/p><\/blockquote>\n