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HOUSTON—Without a doubt, the US economy is sending mixed messages about its health. On one hand, the job market remains robust despite September’s lackluster numbers. (US payrolls only added 136,000 jobs, underperforming economists’ expectations, but the unemployment rate fell to fell to 3.5%, a 50-year low). On the other hand, US manufacturing has sunk into a recession, according to the Federal Reserve, which reports that output has shrunk in the past two quarters this year. Then there is the yield curve, which has been inverting over the past year. However on Friday one portion of it—the spread between three-month and 10-year US Treasury bonds—turned positive last week for the first time since the summer.

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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