A screen shows the Dow Jones Industrial Average after it passes the 20,000 mark on the New York Stock Exchange, January 25, 2017. Photo: Reuters, Brendan McDermid

Despite questions, there are no clear indicators that the wave of global reflation trade’s time has come to reverse course. John Plender reported for the Financial Times that while bearish speculation poses a danger and could cause Treasury yields to fall back down to earth, it may still be a bit early to worry. Much continues to hinge on word about US tax reform and monetary policy, but Plender reminds us the reflation trade is also a global story, with a suprising upturn in growth and inflation seen from China to Europe.