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Asia-Pacific Markets reel amidst Treasury selloff
Before you do anything else today, set aside 3 minutes to read this from our US economist and rates strategists. Though if you are really pressed for time, the message is very neatly summarised in its title "Does a “patient” Fed risk becoming a “complacent” Fed?". The answer to which is an emphatic "Yes!". I've written about this at times in this note myself, and I find myself coming back to the question, "when headline US inflation is in excess of 3% later in 2Q21 (which I fully expect, and which James Knightley, our US economist, is forecasting), isn't Jerome Powell's "patience" going to come ... (full story)