Markets were mixed again on Thursday.
The STOXX Europe 600 rose 1.1 percent but the S&P 500 fell 0.1 percent and the Nikkei 225 fell 0.7 percent.
US crude oil weighed on stock markets, tumbling 4.8 percent.
The US 10-year Treasury yield rose to 1.387 percent, up for a second day.
“Recession unfortunately looms, that is what the bond market tells us,” Steve Cortes, chief strategist at BGC, told FOX Business Network.
“Yields are going the wrong way really quickly,” said Dan North, chief economist at Euler Hermes North America. “We don’t see a recession in 2016 but it raises concerns for 2017.”
In the meantime, the earnings recession in the US is already about to hit the one-year mark. Second-quarter profits from S&P 500 companies are expected to decline by 5 percent, the fourth-straight quarterly drop, according to S&P.