About this work
Strong US economic releases during the 2021 reopening reflected the reversal of the shutdown, with unusually volatile data surprises. Robin Brooks and Jonathan Fortun expected this turbulence to persist into the summer and put upward pressure on long term US bond yields. Their April assessment identified Turkey as the emerging market most affected, with spillovers also reaching Brazil and Colombia.
Abstract
Strong US economic releases during the 2021 reopening reflected the reversal of the shutdown, with unusually volatile data surprises. Robin Brooks and Jonathan Fortun expected this turbulence to persist into the summer and put upward pressure on long term US bond yields. Their April assessment identified Turkey as the emerging market most affected, with spillovers also reaching Brazil and Colombia.
Cite this work
Robin Brooks, Jonathan Fortun (2021). Global Macro Views: The 2021 US Data Tantrum. Institute of International Finance.