Financial markets completely reject the idea of a shift to a more inflationary economic regime

Most economists believe that OECD countries’ economies have moved from a low inflation regime to a fairly high inflation regime, due to: Population ageing; The restoration of wage earners' bargaining power; Geopolitical tensions and conflicts; Reshoring of strategic production; The energy transition. Financial markets today completely reject this idea of a shift to a more inflationary economic regime, and they have returned to the idea of inflation and long-term interest rates rapidly returning to very low levels, after a very short period of inflation. We do not believe financial markets are right.