Macro Strategy Views: Is the reflation theme Dead?
The reflation theme has dominated financial markets in recent months, driving stocks higher, depressing credit risk premiums and weakening the USD. However, over the past week inflation expectations dipped, the USD stabilised and nominal yields drifted lower. We discuss whether the reflation theme is now dead, or whether this is just a pause before the next acceleration. Global Head of FI&C Research Thomas Harr chairs today’s podcast and he is joined by Senior FX Strategist Lars Merklin and Credit Analyst Mark Naur.