The bonds sold off. When you ask most people about inflation, they think of the CPI, price inflation. This, everyone is in agreement, is bad. The more astute can also name wage inflation. Wage inflation, it seems, is only bad when it is happening to other people.
People seem to be very much in favor of personal wage inflation.
The last type of inflation is financial asset inflation. Mr. Salvigsen pointed out this can be just as damaging to an economy as the previous two. Ask people about financial asset inflation and the chorus resoundingly approves. Go up is one thing. Go crazy is another.