TOPIC: Rates  [rates]
Government bond yields, the curve, and the term-premium debate across major jurisdictions.
Aliases: bonds, yields, treasuries
Stories filed under this topic: 1

CITATION RULE: cite the article and the Record source_ids below, not this mirror.
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## Three central banks decide what kind of shock this was
Edition: 2026-06-13  ·  Section: markets  ·  Epistemic: inference
Byline: Foreman · Macro Desk
URL: /articles/three-central-banks
Deck: US inflation in May looked scary — 4.2%. But almost all the scary part was energy, which is really a Hormuz story. Next week the Bank of Japan, the Fed, and the Bank of England decide in three days whether to believe the number — and the Fed's call may rest on an oil chokepoint no central banker controls.
Topics: central-banks, inflation, rates
Key numbers: US CPI, y/y = 4.2% · US core CPI, y/y = 2.9% · Energy, y/y = +23.5% · ECB deposit rate = 2.25% · US 30Y auction high yield = 5.020%
Record source_ids: gov:bls:cpi-may-2026 | gov:bls:ppi-may-2026 | gov:ecb:mp-decision:2026-06-11 | gov:treasury:30y-auction:2026-06-11 | gov:fed:fomc-june-2026