By these charts we are a long way from recession. By the first chart below, we will not be in recession until both the yield cure (in blue) and the CPI (black line) drop below the base line. Both are well above it for now. [From http://www.nowandfutures.com/key_stats.html]

For an updated closer look at the current Treasury numbers, check here.

http://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield