Portfolio managers watch inflation figures like milk on fire.
The return of this spiral of rising prices and wages is far from neutral for investors.
The markets have benefited greatly from the largesse of central banks.
They will now have to wean themselves off this providential windfall.
These ultra-generous monetary policies are indeed fueling soaring prices.
The powerful Fed in the United States has already put a severe brake on its monetary policy and the European Central Bank seems to want to follow suit.
With the return of inflation, the markets will also have to reckon with rising interest rates.
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The index of American technology stocks is also giving up...
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