The unwinding of loose monetary policy: How far will yields rise?

June 7, 2021

A/AText size:AAA

As the global economy recovers from the pandemic, central bank policy rates are expected to lift off starting in 2023 as quantitative easing unwinds. But how will that affect bond yields? According to a new Global Macro Matters paper, Vanguard's model suggests that long-term government bond yields will lift only modestly as ultra-accommodative monetary policy normalizes.

Read PDF