Stop obsessing over the yield curve and its power to predict a recession. That’s our call of the day’s message, from The Economic Outlook Group’s chief global economist Bernard Baumohl, who says rising expectations of a global downturn are becoming a little nutty. This comes a day after recession mongers leapt on the spread between the 10-year TMUBMUSD10Y, +0.54% and the 2-year Treasury note yield TMUBMUSD02Y, -0.53%, which briefly inverted Wednesday. For those of you who missed the significance of that move, it’s a recessionary red flag that has predicted some past downturns. Stocks wasted no time in adding to ... (full story)