You might not have found this month particularly interesting so far(unless you have more of a grasp of the details of the customs union than most people). But one way or another, April has come with a good few watershed moments.
The first came from the bond market: this week the US ten-year Treasury yield hit 3% for the first time since 2014. That's partly about the reversal of quantitative easing (QE). The Federal Reserve, now headed by Jerome Powell, is now selling bonds into the market, the immediate effect of which is to push down prices and raise yields. But it is also about inflation the oil price has risen sharply in the past couple of weeks, and in the US, inflation expectations are at a four-year high.
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