While much of the drop in long-term government bond yields over the past couple of days reflects relief from lower oil prices, policy news from the Fed and the BoE (which has slowed its QT programme) have also played a part. Our sense is that the Warsh Fed is, in the near term, going to err on the hawkish side, which ought to help keep long-end yields in check and benefit the dollar.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.
