Market Minute − Rates and bonds September 2026

There were no central bank rate decisions in August. However, long-term government bond yields attracted considerable attention: in both Europe and the United States, long-term interest rates reached levels not seen for many years. The main drivers behind this increase remain unclear. Kevin Warsh’s speech at the Jackson Hole symposium also failed to reassure markets. We look back at developments on interest rate and bond markets in August, as well as provide an outlook on market expectations for the months ahead.

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