Bond investors are piling into wagers that a US recession is around the corner amid a growing dissonance between how markets and the Federal Reserve see the outlook for the economy. The gap is particularly evident in the yield curve — a closely watched corner of the $24 trillion market — which is headed for its steepest monthly increase since October 2008, after traders axed bets on any further interest rate hikes this year and ramped up expectations for rate cuts. That’s a striking rebuke to Fed Chair Jerome Powell who indicated this week that rate reductions in 2023 aren’t on his mind. Many times during the past ... (full story)