With the Fed still purchasing $55bn of Treasury and mortgage bonds each month, policy remains very accommodative, but should the economy gather pace during the Spring, bond yields, which move inversely to prices, are likely to turn substantially higher.

For more video content from the Financial Times, visit http://www.FT.com/video

Subscribe to the Financial Times on YouTube; http://goo.gl/vUQx5k
Twitter https://twitter.com/ftvideo
Facebook https://www.facebook.com/financialtimes