0508 GMT - For fixed income, risks around growth have diminished and this puts inflation in focus, Morgan Stanley's Andrew Sheets says in a note. "We think inflation comes in lower than expected across the U.S, euro area, U.K. and Japan over the next 12 months, with core inflation close to target by YE27," the global head of fixed income research says. If correct, this should warrant less hawkish policy than markets price, he says.
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