The Fed, Biden, and inflation: The big questions facing EM debt investors By Peter Eerdmans & Peter Kent 1 minute read
After 25 years of modest inflation, has the death knell sounded?
After the strong recovery that followed the market turmoil last March, investors have seen a marked shift since the beginning of 2021: with the exception of high yield, markets have contracted. This shift reflects investors’ reflation fears, which have gathered pace as belief grows in the global recovery story during the second half of the year.
Current estimates suggest: a significant shortening in the period until the US Federal Reserve’s first rate hike; a doubling in the pace once hikes start; and a sharp increase in the terminal rate.
Update:
Prime Minister Stephen Harper named his cabinet Wednesday morning, and Cathy McLeod was not among the appointees.)
A new federal cabinet will be sworn in this morning in Ottawa and MP-elect Cathy McLeod is rumoured to be among the appointments.
The Prime Minister s Office confirmed Tuesday that Stephen Harper will announce the new lineup at the Governor General s residence late in the morning.
Never one to go for major cabinet overhauls, the prime minister is expected to keep many of the same faces in their current roles including Finance Minister Jim Flaherty, Defence Minister Peter MacKay and Environment Minister Peter Kent.
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