In a recent article published by OMFIF, BWC Member Mark Sobel examines the sharp rise in bond yields over recent weeks, arguing that the shift is more profound than typical market volatility. Sobel makes the case that higher yields and term premia may be here to stay, pointing to inflation, central bank behavior, fiscal policy, and geopolitics as the structural forces driving the trend.

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All views expressed by members are their own and not reflective of the views of the Bretton Woods Committee.