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| Benoît Cœuré |
IT SEEMS SO obvious now. Inflation-linked issues have become such an established part of the European bond market, and such a neat way for funds to match assets and liabilities, that investors now need a good reason not to use them, rather than a good reason to buy them. Even in a period of low inflation, new types of investors are coming to this asset class with every issue. The level of demand has prompted Japan, a country that famously has no inflation, to join the rush to issue linkers.
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