Opinion
The great reflation trade in global bond markets
Key questions include how central banks respond to the surge in rates and whether there are any circuit breakers that could stall – or reverse – the recent rate rise.
Nathan SheetsContributorUS President Joe Biden’s administration has adopted a “go big or go home” strategy, with a $US1.9 trillion ($2.45 trillion) fiscal stimulus package poised to gain approval by mid-March and a sizeable infrastructure bill likely to be pushed through later this year.
This stimulus, coupled with the vaccination campaign’s mounting gains, has lifted the outlook for US growth, with many analysts expecting the economy to expand at a 6-7 per cent pace this year.
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