Insight - Nowhere to run, nowhere to hide as stagflation bites

In free fall: People walk past an electronic stock board showing Japan’s Nikkei 225 index yesterday. Asian shares fell across the board after Wall Street tumbled into a bear market, indicating that major US benchmarks and individual stocks have fallen 20% or more. — AP

INFLATION and economic data are screaming at investors to run for the hills. But what if the hills are hard to find?

Asset markets are cratering, risk appetite is evaporating, and volatility is spiking as the highest price rises in 40 years push up market-based borrowing costs and expected policy rates.