Markets are starting to price in a stagflation situation. - Getty Images There’s been a month of stellar earnings — the fewest earnings misses in 25 years, apart from the pandemic recovery — and where basically nothing has happened in the Strait of Hormuz, with little kinetic action but also few ships traversing the key waterway. Citi’s team of quantitative analysts has studied the market and says it’s beginning to smell like stagflation. Most Read from MarketWatch “We make the case that the current ...