Can central bank sentiment predict changes in yields?

Julia Asri Meigh, Head of ESG and Macro Research (New York)

Post feature

The current economic climate has put a spotlight on central banks around the world. Monetary policy, however, is only directly observable in official meetings and statements. Aggregating central bank sentiment through the lens of news media may capture hidden information that has ramifications for financial markets. In this literature review, we summarise a study that employs textual analysis of central bank tones in the media to examine its impact on future changes in yields.


In this literature review, we summarise the study Central Bank Monetary Tones and Yields by MKT MediaStats researchers Rajeev Bhargava, Tim Graf, Michael Gudi, Michael Metcalfe, Gideon Ozik and Ronnie Sadka.

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