The rise in US interest rates is refocusing minds and prompting attitude adjustments the world over, but most of the attention has been on the absolute increases in yields. To understand the changes on a deeper level, from a global perspective, it’s necessary to consider the relative shift too.

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* Biden’s $1.9 trillion Covid-19 relief plan set to become law this week
* Will US rebound create imbalance for world economy?
* Soaring home prices are starting to worry policymakers
* Rising oil prices may threaten global economic recovery
* CDC eases guidance for people who are fully vaccinated against Covid
* New US Covid-19 deaths below 1,000 for second day–four-month low
* Eurozone economy fell more than previously estimated in 2020’s Q4
* German exports rose in January, beating expectations
* 10-year Treasury yield continues to rise, reaching 1.59%: