Welcome to The Bitcoin Layer, where we bring you research, analysis, and education for all things bitcoin and macro. In this episode, Nik explains how yield curve inversions always precede recessions.

0:14 Historic yield curve inversions as recession indicators

0:58 Current yield curve conditions

1:19 Fixed income 101

1:53 Why does the Treasury issue different maturities?

2:15 Relationship between yields and prices

2:30 Difference between the 10-year and the 2-year yield

3:08 Understanding the business cycle

3:39 What happens prior to a recession?

4:47 Flattening turns into yield curve inversion

5:22 2s, 10s relationship recap

5:49 Thank you to sponsors Zebedee and Voltage

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