United States:
U.S. Consumer Sentiment Falls to Fresh Decade Low on Inflation
“U.S. consumer sentiment declined further in early February to a fresh decade low as views about personal finances deteriorated due to intensifying inflation concerns. The University of Michigan’s sentiment index dropped to 61.7, the lowest since October 2011, from 67.2 in January, data released Friday showed. The figure trailed the median estimate of 67 in a Bloomberg survey of economists.”
Europe:
Bank of England Begins Talks With Debt Office on Sales of QE Bonds
“The Bank of England has begun talks with the U.K. Debt Management Office and the Treasury over how to handle active sales of bonds held in its quantitative easing portfolio, according an official with knowledge of the matter. The discussions come as the central bank last week said it would begin running down its 875 billion pounds ($1.2 trillion) of government bond holdings for the first time by letting expired gilts fall off its balance sheet, and reiterated it would consider active sales once interest rates hit 1%.”
Asia:
BOJ Intervenes to Cap Japanese Yields Just as Havens Find Favor
“Japanese bonds got a double boost Monday as traders returned from a long weekend to find strong demand for haven assets, just as the central bank showed its determination to enforce yield-curve control. The Bank of Japan offered to buy an unlimited amount of 10-year bonds at a fixed rate of 0.25% in a bid to cap the recent rise in yields. There was no take up from investors, given the benchmark yield slipped well below that rate in the secondary market to as low as 0.2%.”
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