Markets back under pressure, and relief may be uneven
Inflation – and central banks’ response to it – may continue to be a thorn in the side of the bond market for a while. But, there’s still limited evidence in markets of runaway inflation expectations, which is good news for bonds. Meanwhile, we aren’t yet persuaded the latest tech wobbles are the start of something worse. And finally, we don’t think the renminbi’s rally has gone too far yet.
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