Trick or Treat: Which assets will rise from the dead?
Many Happy Returns
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Is 2% Growth for US Government Bonds Really Quite Reasonable?
I was talking about a kind of tactical play, because I think people are overestimating growth in the US at the moment. And also, I think inflation might surprise on the downside. If that happens, well, that'll push up the value of bonds, long duration bonds in particular. That was another little punt which I had, which was to buy some nominal bonds. You could have done it with tips too. But of course, if inflation comes down, then the tips aren't going to be a particularly good way to play it.
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