Bank of England Backs Down
Friday 5th November 2021There has been a sharp response in bond yields and currency markets to the Bank of England\u2019s decision not to lift interest rates. Furthermore, Andrew Bailey is suggesting he doesn\u2019t know where everyone got the idea that they would. NAB\u2019s Gavin Friend says the response has been very marked. The fall in yields is pushing riskier assets, hence new highs for the S&P and NASDAQ. Yields could claw back a little as markets assess the possibility of a December hike. Meanwhile, the focus is on tonight\u2019s non-farm payrolls in the US, with indications that it could be a strong number.
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