We think that the relatively muted reaction of developed market government bonds to positive vaccine news is a sign of things to come. While the introduction of effective vaccines should help drive a stronger recovery early next year, it does not alter our view that central banks will keep policy extremely accommodative for several years, effectively anchoring bond yields at around their current levels.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services