Friday’s rout echo memories of the 2013 market sell-off, commonly referred to as the taper tantrum. Back then, the US 10-year Treasury yields had jumped from 1.60 per cent to nearly 3 per cent after the US Federal Reserve announced that it would taper its quantitative easing (QE) — a bond buying and interest rate easing programme to help the US economy emerge from the 2008 financial crisis. This led to turbulence in the emerging market (EM) pack, which had seen a gush of liquidity thanks to the QE programme.
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.
Already a premium subscriber? LOGIN NOW
What you get on Business Standard Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- 26 years of website archives.
- Preferential invites to Business Standard events.
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Sat, February 27 2021. 00:47 IST