Ms Schnabel reviewed the financial market developments since the Governing Council’s previous monetary policy meeting on 20-21 January 2021. Sovereign yield curves across advanced economies had steepened, while new coronavirus (COVID-19) cases had fallen, the pace of vaccination had accelerated and a large fiscal stimulus programme in the United States was expected to be soon put into law. The measurable rise in commodity prices had added to upward pressure on long-term nominal bond yields. The increase in long-term bond yields had been more muted in the euro area than in other advanced economies. The euro area GDP-weighted yield curve remained considerably flatter than throughout most of the years preceding the COVID-19 pandemic and it had largely the same shape and location as observed just before the tweet at 7:31am: ECB ACCOUNTS: THE VIEW WAS HELD THAT THE INCREASE OBSERVED IN SOVEREIGN YIELDS HAD REMAINED CONTAINED AND TO SOME EXTENT DECOUPLED FROM DEVELOPMENTS IN THE UNITED STATES. tweet at 7:32am: ECB SAYS VIEW WAS PUT FORWARD THAT THE TIGHTENING MIGHT NOT BE SIZEABLE AND PERSISTENT ENOUGH TO AFFECT BROADER FINANCING CONDITIONS MATERIALLY #News #Forex #ECB tweet at 7:32am: ECB ACCOUNTS: THESE RISES WERE OFTEN OBSERVED TO HAVE OCCURRED FROM VERY LOW LEVELS. tweet at 7:33am: ECB ACCOUNTS: IT WAS ARGUED THAT HIGHER REAL RATES WERE NOT NECESSARILY A CAUSE FOR CONCERN

U.S. Treasury Secretary Janet Yellen on Thursday warned of the risk of a permanence divergence in the global economy, and urged major economies to strive to provide significant ...