Inflation will not moderate, it is a runaway train
Central banks' attempts to kill inflation is a paradigm shift, which could end in a deep recession.
Summary: The extreme risk aversion that plagued markets on Monday has abated somewhat, with appetite for EM assets picking up a tad. But the undercurrent of fear persists: tech equities have plunged on regulatory fears, and investors are still finding comfort in the safety of gold and the Japanese yen.