Market Ethos - July 4th, 2017

Is the Reflation Trade Back On?

 

Bond yields rose all around the globe last week as improving data emboldened a number of central bankers to speak more hawkish. In this ethos installment we examine whether the reflation trade that worked so well in the 2nd half of 2016, then reversed for much of 2017, is back on. And if so, what to do about it.