It’s everywhere. At the White House. In consumer data. On earnings calls: Anxiety that inflation is about to gut the economy. Two places it isn’t are the stock and bond markets, where investors have taken Jerome Powell’s “transitory” mantra to heart.
With investors anxious to hear the Federal Reserve’s latest take on inflation after last week’s hot reading, certain corners of the market are already simmering down.
Wall Street got its stimulus. Now it’s hearing about the bill.
Investors awash in optimism have bid up equities to their best start of the year relative to bonds in almost a decade.