After “taper tantrum”, is “reinvestment rage” next?

The US Treasury market has shrugged off the news in the latest FOMC minutes that the Committee may begin to alter its reinvestment policy later this year. Nonetheless, we still expect a reduction in the size of the Fed’s balance sheet to contribute to a rise in yields in the coming years.

Subscriber content

Read this in full, free

Start a free trial and use one of your 10 free starter credits to unlock this piece.


Free. 10 articles. No card required.
By completing this form you are agreeing to our Terms and Conditions for the provision of a free trial of Capital Economics' services. We take your privacy seriously and will not share your details with others without your consent. By providing your details, including your email address, you are consenting to Capital Economics sending you macroeconomic commentary and analysis. You can unsubscribe at any time. See our Privacy Policy for more information.

Already a client or trialist? Log in to read this.