"I am not buying this story at present - because inflation is...

"I am not buying this story at present - because inflation is not happening in US/China/Europe/Japan at present and interest rates are (have) going up in US and Japan."


If there is no inflation why are the US indicies hitting all time highs?

Why is oil moving higher over the longer term?

Definitely it is a very mixed picture.

If I had to generalise about the markets globally I would say stagflation again IMO.

Gold may diverge from other commodities like oil for a while, but if oil rises for long enough, gold will follow.

US = stagflation

China = inflation

Europe(olive oil belt)= deflation

Germany = inflation

Japan = deflation