FRED:DGS5   5-Year Treasury Constant Maturity Rate
This is a chart showing treasury yields, color coded by duration (yellow is the 1 year, dark blue is the 30 year), with the $SPX in the lower frame. Each red line shows a major market top and how they relate to yield compression followed by inversion. It looks to me like shorter term yields always rise vs longer term yields quite awhile before bear markets occur (in the past its been months or years before). It also looks like short term yields are rising abnormally quickly this time.

Yield inversion is a huge red flag that a bear market is coming and I wonder how long we have this time before that happens.
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