A big bond sell-off.
Friday 26th February 2021Despite the increasing dovishness of central bankers the markets have been selling government bonds like they are going out of fashion. That\u2019s resulting in huge increases in bond yields in around the world, but particularly in the US and Australia. It\u2019s the pace of the move in yields that\u2019s grabbing attention, says NAB\u2019s Gavin Friend in London. Some are also expecting inflation sooner rather than later, evidenced by a rise in yields on shorter term US treasury notes. Spending data tonight could add fuel to this burst of optimism if it suggests there\u2019s more pent-up demand in the US economy.
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