Financial markets have entered a more unsettled phase, with long-term yields, until very recently, rising notably across the US, Europe, and Japan. While inflation persistence and increased government borrowing have played a role, the moves also reflect broader concerns about global policy credibility and capital market dynamics. In our charts this week we focus on:

The US dollar and Treasuries
Savings and investment imbalances
Central banks' QE policies
US productivity growth
Productivity growth in other advanced economies
Electricity prices 

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