FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Fed Holds Interest Rates Steady as Kevin Warsh Says Rising Treasury Yields Tighten Financial Conditions 
BOJ Seen Holding Rates at 1% While Keeping Inflation Risk Warning 
Eurozone Bond Yields Fall as Oil Slump Eases Inflation Fears Ahead of Central Bank Meetings 
Japan PM Sanae Takaichi Unveils Growth Plan as BOJ Independence Concerns Lift Bond Yields 
BOJ Holds Rates at 1% as Inflation Outlook Eases, October Rate Hike Still Possible 
RBA Signals More Rate Hikes Possible as Australia Battles Stubborn Inflation 
The U.S. treasury auctioned several bonds last night and the yield in those auctions indicated that the financial markets are not overly worried about or betting for further sharp hikes from the U.S. Federal Reserve, which has hikes rates thrice since last December.
Treasury auctioned 3-month bills at 102 basis points, which is 2 basis points higher than the previous auction a week ago but 16 basis points lower than in July. The 2-year auction yielded 134.5 basis points, which is 5 basis points lower compared to the previous auction in July. The 5-year auction yielded 174.2 basis points, down 14.2 basis points the previous auction in late July, and down 31.5 basis points from its auction in December.
The Federal funds future is also pointing to a receding hike bets. According to today’s value, the market is pricing just 31.5 percent chance that there will be a 25 basis points hike in December.
