The yield curve is considered a barometer for the health of the U.S. economy. A steepening yield curve and rising spread between the 10-year and 2-year associated with a growing economy. However, a narrower spread and one that turns negative has historically signalled a recession was not far away. In recent years the use of QE by the U.S. Federal Reserve has distorted this signal and a narrowing spread or even inversion may not be as ominous as it once was.