This was the week financial markets faced up to the realisation that low interest rates and subdued inflation may not be a permanent state of affairs. Around the world, bond investors have taken fright. The 10-year yield on US public debt — perhaps the most fundamental market price in the world — has climbed steeply. Market “break-even” expectations of US inflation over the same horizon rose to 2.2 per cent.
上周，金融市場開始意識到，低利率和受抑制的通脹也許不會長久持續。全球的債券投資者已感到恐慌。10年期美國國債收益率——也許是全球最基礎的市場價格——已劇烈攀升。反映市場對美國通脹預期的10年期“損益平衡通脹率”上升至2.2%。
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