This confuses me. Inflation is running hot so that sovereigns can decrease their debt. It's either that, some miracle tech that grows the world fast, or austerity which seems political suicide.
Generally holding hard assets with debt is seen as protection against inflation, with the provision that the debt can be serviced. Good projects should still be good projects as the future price of ore should go up with inflation??
I guess investors might want guaranteed risk free loss in purchasing power. (bonds)
My guess is finance types are using poor sentiment to screw everyone. But the facts are any recession looks like being mild. The US stock market is technically in a bull market again. Inflation will probably be sticky and come in waves, and sovereigns can't tolerate high interest rates or they make their deficits worse, need to issue more debt and make inflation worse! YCC is coming eventually.
I think negative sentiment is overdone- contrarian play is commodities and I think they will do very well this decade.
DYOR
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