About this work
The October 2021 bond selloff differed from the rise in yields earlier that year. Robin Brooks, Jonathan Fortun and Jonathan Pingle find increases spread more broadly across maturities, with a smaller rise in real yields. Greater sensitivity to positive economic surprises suggested renewed focus on recovery and a movement toward, though still short of, conditions seen during the 2013 taper tantrum.
Abstract
The October 2021 bond selloff differed from the rise in yields earlier that year. Robin Brooks, Jonathan Fortun and Jonathan Pingle find increases spread more broadly across maturities, with a smaller rise in real yields. Greater sensitivity to positive economic surprises suggested renewed focus on recovery and a movement toward, though still short of, conditions seen during the 2013 taper tantrum.
Cite this work
Robin Brooks, Jonathan Fortun, Jonathan Pingle (2021). Global Macro Views: The Bond Market Sell-Off. Institute of International Finance.