There’s always more to it. One thing that can cause an inversion is demand for US government securities. And that is happening. Here’s an article that covers it. Ut’s two years old but like they predicted it did get worse. And it can drive an inversion.
One reason it’s getting worse is the central bank negative rates in many countries.
Pos. Country — August 6, 2019 10-yr yield
1 Switzerland -0.92%
2 Germany -0.53%
3 Denmark -0.49%
4 Netherlands -0.43%
5 Austria -0.30%
6 France -0.27%
7 Finland -0.27%
8 Sweden -0.21%
9 Belgium -0.20%
10 Japan -0.18%
11 Slovakia -0.14%
The US is 30th at 1.73%. Zambia is at 31% but that is because no one wants to buy them.
What happens when the US goes negative?
No one is asking that questions.
What is China’s rate?