In the run-up to the US CPI showdown, analysts at Nomura note that the concerns over rising inflation are excessive.
Key quotes
“US 10-year break-even inflation rate +14bps to 2.54% since the end of last month, the highest since 2012.”
“Nominal 10-year US yield remains little changed over the same period.”
“Many Fed officials still see the pickup in inflation as temporary and the rise in BEI isn’t leading to talk of front-loading tapering.”
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