Attention will be particularly centred on the discussion of QE tapering. Previous comments by regional Fed members Bostic and Kaplan stoked markets into pricing in the possibility of bond market support fading by year-end. When combined with news of an additional $1.9trn fiscal stimulus package being floated in Washington, this resulted in rising 10-year yields, which has been one driver of the USD rebound witnessed at the beginning of this year. A quicker vaccination campaign being rolled out since December has also added to a brighter economic outlook, bringing the discussion of policy normalisation to the table.Read More
In the World
Peter Isackson | Most analysts focused on the rioters themselves and the link with President Donald Trump, who commanded the crowd to gather at the Capitol and prepare for a fight. Pelosi peered further into the evil plot, demonstrating an investigative acuity worthy of Sherlock Holmes. Not only did she connect the threads dangling for the past four years inside the brains of prominent Democrats, her far-sighted global perspicacity bore its most compelling fruit when she identified the Moriarty of the tale, the hidden ringleader no one in Washington or the media dared mention, but only she could suspect: Vladimir Putin.