Bond yields rise further as Powell puts paid to tapering
Friday 15th January 2021Bond yields were already on the rise before Fed chairman Jerome Powell talked down the likelihood of any easing in bond purchases this year. NAB\u2019s Gavin Friend says he indicated the Fed would look through any short-term rise in inflation as a reason to make changes. This has added to a positive market sentiment today, despite a disastrous rise in US jobless claims, up from 784k to 965k in one week. There\u2019s also discussion today on the ECB minutes, German GDP, NAB\u2019s payments data and an exodus from the UK. Today, all eyes will be on what Joe Biden has to say. It\u2019s a busy first week back!
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