Chairs are piled up on tables at a closed restaurant near the Sydney Opera House on July 6 during a lockdown to contain an outbreak of the highly contagious Covid-19 Delta variant in Australia. Photo: AFP Chairs are piled up on tables at a closed restaurant near the Sydney Opera House on July 6 during a lockdown to contain an outbreak of the highly contagious Covid-19 Delta variant in Australia. Photo: AFP
Chairs are piled up on tables at a closed restaurant near the Sydney Opera House on July 6 during a lockdown to contain an outbreak of the highly contagious Covid-19 Delta variant in Australia. Photo: AFP
Kerry Craig
Opinion

Opinion

Macroscope by Kerry Craig

Why are bond yields so low when economic recovery indicators are positive?

  • Part of the reason could be fundamental worries about what lies ahead, in particular the spread of the Covid-19 Delta variant and its effects on reopening
  • The dampeners on government bond yields will fade over time, and ultimately the strong prospects for brighter economic growth should send yields higher

Chairs are piled up on tables at a closed restaurant near the Sydney Opera House on July 6 during a lockdown to contain an outbreak of the highly contagious Covid-19 Delta variant in Australia. Photo: AFP Chairs are piled up on tables at a closed restaurant near the Sydney Opera House on July 6 during a lockdown to contain an outbreak of the highly contagious Covid-19 Delta variant in Australia. Photo: AFP
Chairs are piled up on tables at a closed restaurant near the Sydney Opera House on July 6 during a lockdown to contain an outbreak of the highly contagious Covid-19 Delta variant in Australia. Photo: AFP
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Kerry Craig

Kerry Craig

Kerry Craig is a global market strategist at JP Morgan Asset Management.