Allianz CIO Says Markets Are Underestimating Inflation Surge

Allianz Chief Investment Officer and Chief Economist Ludovic Subran says, "The second inflation shock is not sized properly, not only by markets, but by policymakers." He spoke on Bloomberg Television after US short-term bond yields surged by the most in 19 months on a faster-than-expected rise in consumer prices and warnings by Federal Reserve officials that interest rates may need to be hiked more aggressively.