Stock markets are taking a small breather this morning, reassessing the situation after it took Federal Reserve Chair Jerome Powell eight minutes to dictate the new normal with regard to the central banks’ inflation fighting plans. US Treasury yields are slightly down but the US yield curve is still heavily inverted. Markus Allenspach, Julius Baer’s Head of Fixed Income Research, explains where he see yields heading and whether it is time to ramp up exposure now.00:09 Introduction and markets wrap-up by Roman Canziani (Head of Investment Writing)04:05 Jackson Hole and its aftermath by Markus Allenspach (Head of Fixed Income Research)09:03 Closing remarks by Roman Canziani (Head of Investment Writing)