While US price data hints that the Fed is still moving vigorously, stocks and bonds are giving rise to a spectacular rebound. Turnaround or yet another flash in the pan? The key always remains in the reversal of the trend of central banks.
by Maximilian Cellino
The reaction you do not expect to the data that everyone feared at heart. In the US, the inflation rush shows no signs of abating in September, suggesting vigorous moves by the Federal Reserve, and markets understandably skid. But then comes the most sensational (and above all unexpected) reverse that projects the prices of shares and bonds up again, at the same time holding back the superdollar.
The reversal on the markets
In fact, Thursday’s bulletin closed with the European stock exchanges in …
