Inflation Dilemma: Where Now for Central Banks and Fixed Income?

• The trajectory of change as central bankers doubt their own “transitory” story, plus the growing divergence at policy level.
• The potential for policy error as economies adjust to the tailwind from reopening but face offsetting headwinds from fiscal drag, a squeeze on real incomes and growing cost pressures on corporates.
• The potential implications for rate sensitive and riskier credit assets.

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