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?

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.

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

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,

Israel and Hamas agreed to pause fighting yesterday and US banks had some good news to report. Plus, inflation in the US and UK is proving to be pretty sticky. But the latest figures offer some hope. I’m Sonja Hutson and here’s the news you need to start your day.

The good news is not expected to last as inflation creeps up in the coming months as the rise in employer’s national insurance contributions arrives in April, higher VAT on school fees kicks in and road taxes rise. Add to that rising oil prices that could translate into higher costs for homes, transport and related services.

Then there are the doves — those who fixate more on maximising employment and output growth while tolerating greater inflation risk. Hawks prefer to keep interest rates high while doves prefer them low.

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.

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 ...