It's the 28th anniversary of Black Monday, when in 1987, the Dow had its worst day ever and plunged 22.6%. Surprisingly, for at least another four years from Black Monday, there was no recession or bear market. One thing that could have signaled impending doom was an inverted yield curve. This rarity occurs when short-term interest rates (like the yield on the three-month treasury bill) become higher than long-term interest rates (like the yield on the 10-year treasury note).
