News & analysis

After weeks of sustained rallies, the rise of the king dollar came to a halt in the early part of this week as bond markets calmed down, with declines in both nominal and real yields seen as somewhat of a correction to the earlier trend. This week, the yield story saga continues, with the Federal Reserve returning from its communications holiday with a fresh monetary policy decision along with policy decisions by the Bank of England, Bank of Japan, Central Bank of Russia, Central Bank of the Republic of Turkey, and the Norges Bank. The Fed will grab the lion’s share of markets’ attention this week given the recent bear steepening of the USTs curve, the SLR and the passing of the fiscal stimulus bill, while the Bank of Japan will follow closely behind as the results of their policy review are due to be released.

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