NEW YORK (Jan 22): The world’s biggest bond market probably needs a little push from central banks to prop up yields at the highest in more than three years.

The Bank of Japan and the European Central Bank both have policy decisions this week, before an announcement from the Federal Reserve on Jan. 31. While no action is expected from any of the three this month, investors will be on alert for the latest signals on withdrawal of policy accommodation after years of unprecedented stimulus. Any dovish hints from officials could pull the benchmark 10-year Treasury yield back from the brink: It touched 2.66% on Friday, the highest since July 2014.

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