April 14, 2025
United States:
Yellen Says Treasuries Show US Confidence Loss, Not Dysfunction
Former Treasury Secretary Janet Yellen said that the recent selloff in Treasuries signaled a worrying drop in confidence in American policymaking, rather than a dysfunctional event that warrants Federal Reserve intervention.
“I don’t think we’re seeing dysfunction — in the sense of liquidity completely drying up in the markets — but a pattern suggestive of a loss of confidence in US economic policy,” Yellen said on CNBC Monday.
Europe:
Euro Zone’s Weaker Price Outlook Bolsters ECB Case to Cut
Euro-area inflation will turn out slower than previously forecast because of higher US tariffs, according to a Bloomberg survey that supports the case for the European Central Bank to cut interest rates this week.
Analysts see consumer-price growth averaging 1.9% in 2026 and 2% in 2027 — a downward revision of 0.1 percentage point for each prediction.
Asia:
Japan’s Super-Long Bonds Slump as Tariffs Fuel Fiscal Concerns
Japan’s super-long government bond yields surged on Monday on speculation that authorities will order an extra budget draft in response to tariffs that have rattled global financial markets this month.
The 20-year yield soared seven basis points to 2.435%, its highest level since 2004, while the 30-year rate jumped 12 basis points to 2.845%.
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