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Inflation Shifts and the Bond Market Response
Jul 9, 2024
Katharine Neiss, Deputy Head of Global Economics at PGIM Fixed Income, discusses inflation's impact on bond markets. Topics include rate cuts, bonds vs cash, and reflation scenarios in the U.S. and Eurozone. The episode explores market volatility, central bank responses, spread products, inverted yield curves, and the benefits of gradually increasing inflation.
18:20
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Quick takeaways
- Understanding inflation's impact on bond markets is crucial for informed investing amidst global market volatility.
- Higher yields in the bond market signal better returns and present opportunities to extend on the yield curve.
Deep dives
Different Inflation Drivers in the US and Euro Area
In the US, strong demand was a key driver of inflation, while higher energy costs fueled inflation in the Euro area. The lingering effects of energy shocks on inflation are being observed in the Eurozone, leading to cautious rate cuts. The US economy's resilience complicates rate cut decisions due to sustained strength. The consensus is that inflation is not transitory but rather entering a more volatile and prolonged phase.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode