<div id="readability-page-1"><div><div><h2><strong>Phantom inflation, real tightening</strong></h2><p>Markets are already fading the latest inflation scare. Real rates are coming down, energy isn’t breaking to new highs, and the data looks nothing like 2022. Yet the ECB still signals hikes. The real risk isn’t inflation re-accelerating — it’s policymakers tightening into a slowdown.</p><h2><strong>Markets aren’t buying the inflation narrative</strong></h2></div></div></div>

GILI

XG7U

IGIL

IFRB

XGIG

IBCI

MTXX

<p>幻影通脹，真正的緊縮

市場已經開始淡化最新的通脹恐慌。實際利率正在下降，能源價格沒有創下新高，數據看起來與 2022 年截然不同。然而，歐洲央行仍然發出加息的信號。真正的風險不是通脹重新加速，而是政策制定者在經濟放緩時收緊政策。市場並不認同通脹的敍述</p>

ECB Is Still Fighting 2022

ZeroHedge

Lyxor Core UK Government Inflation-Linked Bond (DR) UCITS ETF

Xtrackers II Global Inflation-Linked Bond UCITS ETF

iShares Global Inflation Linked Govt Bond UCITS ETF

iShares France Govt Bond UCITS ETF

iShares EUR Inflation Linked Govt Bond UCITS ETF

Lyxor Euro Government Bond (DR) UCITS ETF Acc

歐洲央行仍在應對 2022 年的挑戰