Global bond sell-off deepened and the US yield curve continued to flatten. There are early signs that consumer sentiment has deteriorated clearly since the Russian assault started, and rising inflation puts pressure on private consumption. The labor market is very strong, and inflation is much too high - Jerome Powell, 21 March 2022 The financial markets have continued to position for tighter monetary policy and as a result bond yields have jumped higher, especially in the US, where some changes have been almost off the charts. For example, the 2y Treasury yield rose 18bp on Monday, which is the second biggest jump ... (full story)