The RBA pushed back hard on rising yields, other central banks seem more relaxed

A snippet from National Australia Bank on the Reserve Bank of Australia

Say that while the RBA has pushed back against higher yields through its QE purchases, it's worth noting that other central banks are seeing the rise in longer-dated yields as a more positive sign.

• Officials from the US Fed and the BoE have said yield moves largely reflect markets pricing in a better economic outlook, with little pushback apart from re-affirming current policy guidance to remain accommodative.
• The ECB has been a little more circumspect. warning that a rise in yields could tighten financial conditions and impede progress on its policy goals.

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Perhaps we get something from Powell today:

• Fed Chair Powell speaks Thursday - stage set for a UST short squeeze play?
• Federal Reserve Chair Powell speaking Thursday - jawbone on rising yields incoming