The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Inflation-linked products debate: Putting a price on inflation

The market is relatively young but it has had a brutal education over the past year as the financial crisis has swept through every corner of the financial markets. Where next for inflation-linked products?

Delegate biographies: Learn more about the panelists 


Executive summary

• The inflation-linked market has faced its own set of difficulties in the financial crisis

• Inflation is no longer the key issue. Now investors seek deflation protection

• Volatile commodity prices have had a big impact

• Government debt managers are now more alive to counterparty concerns

• Pension funds face a difficult choice between volatile equities and low-yield inflation-linked bonds

MH, Redington 2008 was a cataclysmic year. What has the credit crunch meant for us?


CA, RBS The inflation market is still young, so supply and demand is crucial to how it operates and prices. Several years of favourable terms for long-dated corporate issuance, cheap monoline wrapping and attractive asset swap levels meant that we came out of 2006/07 with our most balanced market yet, particularly in the UK. For the first time, even inflation swaps were trading at a discount to bond breakevens.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree