Recent weeks have seen a build-up of Russian military forces on Ukraine’s borders and in illegally occupied Crimea, with not only an escalation of tensions and rhetoric, but also an increase in fighting and fatalities, on both sides. What lies behind...

Overview: Like the dog that did not bark, the long-term US yields tumbled despite data that confirms the acceleration of the US economy and labor market. The Australian dollar reached $0.7760 yesterday, its best level since March 19, but is consolida...

After all the excitement ahead of the March meeting and speculation about how the European Central Bank would react to higher inflation rates and bond yields, it took a while for the ECB to communicate its reaction function. The ECB should try to bri...

The strength in developed market government bonds this week, and in particular yesterday, is a puzzle worth solving for whoever is trying to infer rates direction into next week. Be that as it may, it is possible that flight to quality flow found its...

  Real interest rates, the real price of capital, has been declining for the past decade or so and are expected to remain negative for at least another decade. Why? And what does it even mean?   Maria Demertzis shares insights from her late...

This week, the ECB published an overview of the consultation responses it received on its digital euro survey. > China and Europe share a wish to become less dependent on the dollar for international payments. For China, the DC/EP might be an instrum...