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James, Barcap: supply goes unnoticed |
The absence of inflation-linked bonds following Veolia Environnement’s groundbreaking issue in June doesn’t mean that corporates aren’t interested in paying inflation. In particular, the rapid development of limited price inflation (LPI) swaps means that a lot of UK corporate supply goes unnoticed.
“UK utilities and PPP companies have been big sources, but there’s been almost no issuance of inflation-linked corporate bonds this year,” says Alan James, head of inflation-linked research at Barclays Capital.
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