Central Banks Fight Bond Rout With Action and Promise of More
Bloomberg 2/26/2021 Ruth Carson, Michael Heath and Todd Gillespie
(Bloomberg) Central banks from Asia to Europe escalated their efforts to calm panicking markets, pledging to buy more bonds and signaling more policy accommodation, after U.S. Treasury yields surged to the highest level in a year.
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The Reserve Bank of Australia waded in with more than $2 billion of unscheduled purchases, while Korea announced buying plans for the next few months. European Central Bank Executive Board member Isabel Schnabel said more stimulus could be added if the surge in yields hurts growth.
Central banks from Asia to Europe escalated their efforts to calm panicking markets, pledging to buy more bonds and signaling more policy accommodation, after U.S. Treasury yields surged to the highest level in a year.