The 10-year U.S. Treasury yield has been lingering recently, and the market expects inflation to continue to rise.
Global economic momentum has improved since the beginning of 2021, as COVID 19 vaccines helped reopen economies.
Surging U.S. long yields have been dominating market headlines recently. In the latest monetary policy meeting, the Fed did not announce any measures to contain rising yields.
China delivered its government work report in early March setting GDP growth target for 2021 at above 6 percent, planning to create more than 11 million new jobs while control ling surveyed urban unemployment rate at around 5.5%.
The RMB rose strongly in 2020, with the onshore CNY gaining 6.7% and the offshore CNH up by 7.1%. The strength of the RMB can be attributed to China’s economic outperformance, relatively prudent monetary policy, the swift recovery of exports, and persistent dollar weakness.
An extraordinary 2020 is finally coming to an end. The COVID-19 pandemic battered the global economy, causing a plunge in economic activity, a surge in unemployment, and seismic shifts in industries.
Disclaimer: The above articles reflect only the viewpoints of the author. They neither represent the opinion of the institution nor constitute any investment advice.