Yield curve
Reserve managers stick to asset diversification
Higher yields not prompting central banks to abandon investments in less conventional asset classes
Reserve managers cut duration as inflation surges
Central banks with bigger portfolios often combined this with changes in currency and asset allocation
Fed mulls tightening on scale not seen for decades
FOMC members now contemplating 50bp rate hikes and major asset sales
Is a bond market crisis imminent?
Central banks need careful action and a good dose of luck if they are to avoid financial instability
Yen drops as BoJ defends yield curve target
Bond operations send Japanese currency to seven-year low against the dollar
Sovereign bond markets test ECB’s QE withdrawal plans
Investors see “huge risks” of turmoil in peripheral eurozone debt markets
BoJ launches unlimited 10-year sovereign bond purchases
Central bank steps in as investors put pressure on yield curve target, despite low inflation
BoJ ends some emergency measures
Central bank offers more funding for loans to small businesses, but halts some asset purchases
Fed pulls trigger on taper
Fed begins phasing out QE at initial rate of $15 billion per month
RBA drops yield curve control
Lowe acknowledges messy market conditions after yields broke free late last week
Hiking rates before asset sales may constrict credit – paper
Kansas City Fed research says raising the fed funds rate first may cause yield curve inversion
Majority of central banks have power to issue debt for monetary purposes
Central banks pointed to draining liquidity as a reason for issuing debt
Is the ECB’s strategy review enough?
Reformed framework may allow greater stimulus to tackle weak inflation expectations, but Governing Council is already divided
Negative yields decline in Dutch bond markets
Sovereign bonds account for majority of securities yielding negative returns
Surveillance and suptech innovation in central banks
Tony Sio, Nasdaq’s head of marketplace regulatory technology, explains the role market surveillance tools play in central banks’ suptech portfolios.
RBA adjusts yield curve control as economy recovers
Australia “no longer looking over a cliff”, says governor Philip Lowe
The RBI’s next big question: how to normalise monetary policy?
India’s central bank needs to plan an exit from its efforts to manage the ‘impossible trinity’
Inflation, Fed policy and emerging markets: the good, the bad and the ugly
Steve Kamin explores the global implications of rising inflation and interest rates in the US
Charles Goodhart on inflation targets, financial stability and the role of money
LSE professor says AIT a mistake, independence under threat amid inflation surge and climate stress tests unconvincing
IMF sees scope for unconventional monetary policy in Thailand
Yield curve control with forward guidance might be the best option for BoT, fund says
RBI doubles size of quantitative easing programme
Central bank readies additional 1.2 trillion rupee purchase programme as virus “dents” demand
ECB rate-setters ‘broadly agree’ with loose policy
Governing council members warned financing conditions were still tighter than in December 2020
RBI set to launch second round of asset purchases
Indian central bank seeks to curb borrowing costs amid severe Covid-19 outbreak
Israeli reserves reach new record high
Foreign currency purchases to offset shekel’s strength boost portfolio to $194 billion