For the first time in more than ten years, the ten-year yield has fallen below the two-year yield on US government bonds.

- So it shouldn't be. It is the longer interest rate that should be higher, but now it is the opposite, which means that we have received an inverted interest rate curve, says Frida Bratt, economist at Nordnet.

When it is seen as a higher risk of tying up the money for a long time, it is normal for investors to demand a higher interest rate for investments that last longer than ten years. The fact that the interest rate on the “ten-year-old” is now going down over the shorter maturities is a sign that investors expect a weaker economy in the coming years, Frida Bratt says.

"They have such night-black prospects that they are prepared to agree on a lower interest rate," she says.

"Classic signal of a recession"

She believes that what is happening in the US to a large extent affects the Swedish stock exchange.

- What is happening in North America sets the mood on the stock exchanges worldwide. If the US stock market falls, the Swedish stock market also falls. There will be rings on the water that are spreading across the world's markets, says Frida Bratt.

Traditionally, an inversion of the interest rate curve has been seen as an indication of an imminent recession.

- This is not a fact, but it is enough for investors to get nervous for it to have an impact on the stock exchange. There is a lot of psychology involved and an inverted interest rate curve is a classic signal of a recession. It happened before the financial crisis in 2008 and it seems to be happening now too, says Frida Bratt.

"The market will sway"

What should you do as a private saver?

- In the long term, you should not worry and do not keep and change your pension savings or long-term savings. If you have decades left for the pension, you can sit quietly in the boat. It is not a crash in sight, but uncertain times. The market is going up and down and you can afford that, says Frida Bratt.

However, if you see your savings in the short term, you can think for yourself.

- If it is a five-year period or shorter, then one should be aware that the market will sway. My tip here is to reduce the risks and distribute the money evenly on the stock exchange, for example in a mixed fund with both shares and interest rates, says Frida Bratt.