What’s new on the new normal post-Covid adjustment theme

The Covid crisis forced European policy makers into providing unprecedented fiscal and monetary support. This is set to continue amid a weak recovery. The rise in global bond yields complicates the ECB’s task, which means it is going to have to do more to keep financial conditions easy. Money printing will outpace fiscal requirements, which means euros are going to be looking for another home. With global yields rising this means a weaker euro.

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