Unhedged feels only a little reassurance. We thought inflation was all but beaten four months ago, and were wrong; once burnt, and all that. Despite this good report, however you look at it, core inflation is closer to 3 per cent than 2 per cent, and the trend is sideways, not down.

Reports of the demise of US inflation have been greatly exaggerated. Today on the show, Rob Armstrong and Aiden Reiter discuss the continuing high numbers and what the Fed might do about it this year. Also they go long Ohio State and short New Year’s resolutions.

And almost as expensive due to years of cash flowing in to escape the inflation in neighbouring countries such as Argentina. What’s nicer than an ocean-view apartment to preserve your wealth in real terms?

Economists polled by Reuters expect Wednesday’s US consumer price index to show inflation of 2.8 per cent in December, up from 2.7 per cent a month earlier. They anticipate that core inflation, which strips out volatile components such as food and energy prices,

The battle of expectations continues. Republicans believe inflation will fall to 0.1%, while Democrats foresee 4%.

Yields down, stocks up. After government bonds sold off sharply the week before, buyers were back after favourable inflation prints calmed investors’ nerves in the US and UK in the past week. As far as returning to normal it might be as close as we are going to get for some time.

which is that inflation might stabilise below the target,” he said. Asked about a recent Financial Times survey in which many economists stated that the ECB has been too slow to cut interest ...

Let’s face it, while they are intellectually fascinating, there are no good news stories about bond markets. It’s always “someone’s defaulted”, “someone’s crashing the economy”, or some other such awfulness.

Banks were among Wednesday’s biggest gainers after several of Wall Street’s biggest lenders posted big rises in quarterly profits, driven by strength in investment banking and trading. Citigroup, Goldman Sachs and Wells Fargo all jumped about 6 per cent.

Eurozone inflation rose to 2.4 per cent in December, marking the third rise in as many months and damping hopes of a big rate cut by the European Central Bank later this month. The increase was in line with market expectations, based on a survey of economists by Reuters, and compared with November’s rate of 2.2 per cent.