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Chief Economists Outlook: what bond yields and interest rates tell us about the global economy

Why are there so many headlines right now about bond yields and interest rates? And what does it all mean for the global economy? The latest Chief Economists Outlook, a regular pulse-check of the global economy, shows an uptick in the number of economists expecting stability rather than a downturn. We ask EY's Chief Economist Gregory Daco why that is. And he weighs in on the issue of interest rates: "Higher commodities prices, higher oil prices ... are feeding into higher inflation and leading to expectations of central banks around the world tightening monetary policy to prevent inflation from becoming an anchored phenomenon."