Market Insights Commentary:

💡Highlights 💡 A renewed global sovereign bond sell-off pushed borrowing costs to multi-decade highs as investors reassessed inflation, interest rates and government debt. The US 10-year Treasury briefly reached 5.23%, its highest since 2007, while Japan’s 10-year yield touched 3.12%, the highest since 1996. The Federal Reserve raised its policy rate to 3.75%–4.00%, while the ECB increased its deposit rate to 2.50%. The Bank of England held at 3.75%, although three MPC membe

Interest Rates United States The Federal Reserve maintained a cautious and hawkish tone throughout the week, reinforcing that inflation remains above its 2% target despite signs of easing price pressures. Minutes from the June Federal Open Market Committee (FOMC) meeting revealed that several policymakers considered raising interest rates, although the Committee ultimately voted to keep the federal funds rate unchanged. More importantly, most members indicated that further po

Interest rate Anticipation US Federal Reserve Chair Kevin Warsh reinforced the central bank's higher-for-longer policy stance by reiterating that inflation remains above target and that the Federal Reserve is committed to restoring price stability. Although inflation risks have eased in recent weeks, Warsh provided no forward guidance on a potential July rate decision, signalling that policymakers are unwilling to pre-commit to a policy path. Instead, future interest rate dec