The Baroness and the Bond MarketMatthew C. Klein
April 8 (Bloomberg) -- Margaret Thatcher, who died today at the age of 87, transformed the U.K. by breaking the unions and privatizing large swaths of the economy. Less remembered is her role in the development of the inflation-indexed bond market in the late 1970s and early 1980s. This multitrillion-dollar market provides both retail savers and pension funds with an important tool for portfolio diversification. It also gives investors and policymakers important information about the state of the economy.
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