UBS On-Air: Paul Donovan Daily Audio 'Trust in economists'
Investors are putting their trust in the pronouncements of economists and central banks (putting your trust in economists is the secret of a happy life). Bond markets appear to accept the idea that current inflation pressures will be short lived. Used cars and motor fuel were around 60% of US consumer price inflation rate, which makes the price rises rather focused. In the US, there are fewer and fewer items that are rising in price by more than 2% y/y.
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