The writer is chief market strategist for Europe, Middle East and Africa at JPMorgan Asset Management
The inflation panic is subsiding. Energy prices have stabilised and the pandemic-related supply disruptions are easing. These factors alone should mean that inflation in the west recedes from the eye-watering, double-digit rates that we have experienced of late.
Central banks appear increasingly confident that they have regained control. Bond and stock markets are breathing a collective sigh of relief.
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