David Jane: Sound and fury, signifying nothing

Until a couple of weeks ago, the market had been on a consistent upward trend with barely a wobble since the mid-part of 2016. This had gone on for so long, in fact, that pundits had given up predicting a correction. Now we have had - or maybe remain in - that correction, the headlines have switched to doom-saying. The issue most commentators have argued as the proximate cause for the sell-off is higher than anticipated inflation, leading to rising bond yields. The reason this spooked the markets in such a dramatic way is rather more technical than the headlines suggest. There is a littl...