market update

Key Points

  • The economic recovery is accelerating in the US, and Joe Biden has just announced more plans to spend trillions of dollars on infrastructure upgrades.

  • But, as the strength of the recovery is leading to more risk-taking, the unintended consequences of stimulative policy are beginning to attract more attention.

Key Points

  • All asset classes advanced last week as a combination of quarterly portfolio rebalancing, tame inflation data and European lockdowns eased pressure on bond yields. 

  • Looks very likely that the upward pressure on bond yields will resume before long, likely to pave the way for more volatility

Key Points

  • Bond yields rose again last week.

  • The Bank of England left rates unchanged, the Bank of Japan made a rare adjustment to its policy outlook, while the head of the Turkish central bank was fired for raising rates by 2%.

  • In Europe, Brazil and India, coronavirus cases are rising again.

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