‘I Almost Sprinted Back to My Desk to Buy TIPS’: Reflation 2020
- Powell signals inflation targets fluid with high bar to hike
- Pimco, BlackRock, State Street say risks are underappreciated
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Jason Bloom last week asked an audience of about 150 advisers in the U.S. Midwest to raise their hands if they are worried about inflation. Not one hand went up.
“I almost sprinted back to my desk to buy TIPS,” said the Invesco strategist based in the Chicago suburbs, referring to the common term for inflation-protected Treasuries. “You see something like that and your antenna goes up. The market is probably really offsides right now, leaning too far in one direction.”