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T-bills can be a good investment for the short term while the yield curve is inverted. It also makes sense if you are worried that the Fed can't achieve a soft landing and instead enter into a recession.
There are some worrisome economic signs:
- more layoffs happening: Prudential, Citibank, Spotify, etc.
- credit bubble in leveraged loans (riskiest part of fixed income)
- commercial real estate lending is in distress as work from home is killing the office sector and multi-family is overvalued
- will China's credit problems spill into global markets
- geopolitical risk (Ukraine, Israel-Gaza) --is Taiwan next? India? US elections in 2024?
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