Marcel Cassard, Deutsche's global head of fixed income and economics research, says that implied volatility for inflation markets in Europe is pricing in expectations that inflation will return to levels experienced in the 1970s. They are, in other words, very rich, he said at a recent conference in Barcelona.
Asia is a different story, for three reasons. First, food and energy take up a much bigger share of the average person's living expenses. Second, unlike economies...
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