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yes, agree with that, some people definitely think that there may be a higher inflationary environment coming at some stage ;-)
some people think that we may also be at a late stage in an asset bubble; could make for interesting times ahead.
(apologies, i have old school views on the fallibility of market timing and perceive that the current enthusiasm for certain investments may be based on the inevitability that a rising tide float all boats)
ChasnotRobert-
Oh, absolutely. You won't catch me trying to time the markets.
It's hard to imagine a much lower inflation environment is coming, but of course we've had low wage inflation compared to asset inflation for a while. This could be an asset bubble driven by low interest rates, or partly by diverting wage growth into asset appreciation, or there could be other factors.
How the gig economy lawsuits and regulatory activity, possible productivity effects, government stimuli and let's - optimistically - call it "creative destruction" in the wider economy all work out is totally unpredictable. At least I'm not going to try predicting it.
Even if some of the current, low rate of inflation just moved back into wages where it arguably belonged, it's not clear what that means for monetary policy. People seem much happier to interpret rising share prices as economic success, and rising wages as overheating.
useless
I think we're in an anticipating-higher-inflation situation, which isn't quite the same thing.
For example, from last month: https://www.morganstanley.com/ideas/rising-rates
and, possibly paywalled:
https://www.economist.com/britain/2021/03/31/british-firms-are-adapting-to-lockdowns-and-confounding-forecasters