The political opposition to Biden’s latest tax plans should not be underestimated. Even Democrats in more affluent seats are queasy at the tax hikes touted to fund increased health and…
The economy is on fire, cost pressures ostensibly rising, federal government borrowing is skyrocketing, and yet Treasuries are not interested. The 10-year yield is now 16 basis points below its…
The PBoC is working with the EU to implement a jointly recognised classification system for business environmental credentials by the end of 2021. The EU leads on ESG standards: regulatory…
Treasury yields fell sharply yesterday despite a spate of strong economic reports (initial claims, retail sales, manufacturing surveys). The reaction was a ‘goldilocks’ moment for equities, as real yields fell….
Inflation was expected to turn higher in the spring because of base effects. Big price drops in the early months of the pandemic are now dropping out of the annual…
The dollar has ‘defied expectations’ this year, but the pause in the Treasury bond market sell-off has prompted a reversal. The trade-weighted dollar has fallen 1.2% since the start of…
