Many investment bubbles have deflated in the past 18 months. Could a bubble in expectations of deflation itself need to deflate before long?

Bond yields are low for understandable reasons. With investors fleeing risky assets, it is no surprise that they are buying bonds. Financial stocks, in the US and globally, are plumbing new lows, showing concern about financial activity. The ongoing collapse in commodity prices virtually guarantees that inflation is vanquished for the short-term.