Rotation in reflation trades

The rotation in global inflation and carry trades are two factors currently influencing trade recommendations in the Royal Bank of Canada’s (RBC) model portfolio. As price pressures in the US pick up, disinflation in the Eurozone, Canada and Scandinavia is becoming more firmly entrenched below 2% targets. Although inflation in the UK of 1.4% is also below the Bank of England’s (BoE) 2% target, that has not prevented the BoE Monetary Policy Committee (MPC) from raising rates by 50 basis points

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