Why inflation risks are the last thing investors should worry about right now

All of a sudden, everyone seems to be on high alert for the return of inflation. A sharp rise in consumer prices risks sparking a disorderly sell-off in bond markets that could ricochet through riskier assets if investors fear central banks will start tightening monetary policy earlier than expected. Concerns have been gathering pace over the past several months, but have become more pronounced since the start of the year. On Monday in the US, a key gauge of market expectations of inflation –…

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