What does the steepening of the yield curve show?
The Yield Curve is the risk of a fixed income asset experiencing an adverse shift in market interest rates. Investopedia has a comprehensive article on yield curves and how the movement translates to the market. The Balance explains that a steep yield curve means that the gap increases between short-term bonds and long-term bond yield. A Steepening yield curve usually means that inflation is expected to rise and economic growth will be strong.
Christine Poole on Yield Curve
What we can expect is that earning should be good, and interest rates will certainly go up to counter an eventual recession.