The 10-year US breakeven inflation rate jumped to 2.52% on Friday, up from 2.38% at the start of the week, and from a low of 2.12% on January 18th. Inflation expectations…
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Andrew Bailey is trying to push back against market expectations. Gilts aren’t having any of it. This is partly due to the global backdrop of global government debt selling. The…
The turn higher in Eurozone (and US) sentiment indicators contributed to the global selloff in government debt last week. It is not clear that any major central bank has got…
Some better news on the PSNB ex, which posted a surplus of £5.4bn in January. Total income tax receipts have turned higher, up 12.7% y/y (6-month moving average), the strongest…
There has been a major repricing in US Treasuries since the end of January. A series of upside surprises to the data have strengthened the conviction that this economy can…
The Inflation Reduction Act (IRA) was a ‘landmark’ in the fight against climate change. The CBO estimated that it would reduce deficits by $238bn over a decade (2022-31): the legislation…
US Treasury yields climbed towards the end of last week, lifted by a soft 30-year auction on Thursday. There has been a major repricing since the strong payrolls report on…
