Comment: Inflation jitters discounted

Bond yields have been rising rapidly as a result of jitters that rising oil prices will lead to higher inflation than previously expected. Stephen Roach, chief economist at Morgan Stanley, argues that the bond market has got it wrong - the global economy is in a much better shape to deal with supply shocks than in previous eras of rising energy prices.


In a webcast yesterday, Roach argued that current concerns about inflation will turn out to be misplaced. Higher energy

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