HSBC Global Research

And Now for Something Completely Different?

Date:

And Now for Something Completely Different?

Author: Fórmate a Fondo

  1. Despite the US reflation trade, they see little underlying inflation pressure in Europe
  2. Markets have become more optimistic on inflation and the reflation trade is on
  3. Meaningful fiscal expansion seems unlikely and structural reform has stalled or even reversed
  4. QE is failing to lift inflation but the ECB may need to taper, if only to shift pressure back to governments