BIS: markets less beholden to central bank action

The Bank for International Settlements, Basel
The BIS. Photo: Ulrich Roth
Ulrich Roth

After the political shocks of recent months, markets appear to be regaining autonomy and reacting less to central banks' "every word and deed", Claudio Borio said as he presented the latest Bank for International Settlements quarterly review.

There is evidence of a shift in market functioning since the shock of the US election result, the head of the BIS's monetary and economic department told journalists. After Donald Trump was elected, S&P futures plunged, Treasury yields fell and the dollar

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