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: We expect three themes to threaten the tranquility of fixed-income investors in the final quarter of the year: persistent volatility in emerging markets, political tension in the European Union, and finally the constant tightening by the Federal Reserve which will start to destabilise US high-yield corporate spreads.