The US yield curve has inverted for the first time in a decade. This means the difference between the long term bond yield (5 year) is now lower than the short term (3 year). This isn’t as drastic as the 2 and 10 year yields flipping but is still a significant milestone. Bloomberg has a great article about what this means for the US economy.
Typically yield curves flip signal recessions - they have done so for all 7 recessions. However it’s uncertain as always how this will impact the economy in the short term.