Mike Ashton on How the Market Expresses Inflation Expectations

About this episode

Mike Ashton discusses how the market expresses inflation expectations through TIPS and swaps.

Investors often use inflation swaps and breakevens — the difference in yields between nominal Treasuries and TIPS — to deduce market participants’ inflation expectations. These measures also change from new TIPS issuance, shifting inflation risk, and a liquidity premium, however, making them imprecise gauges of estimates for future inflation. In this episode, we talk with Mike Ashton, Managing Principal at Enduring Investments, about how TIPS and swaps compensate investors for inflation, how closely they reflect inflation expectations, and what they tell us about expectations for the War in Iran. Simply Put: Expert perspectives on the trends influencing fixed income, banking, and the macro landscape, hosted by FHN Financial’s Macro Strategist, Will Compernolle. Tune in to better understand what’s moving the markets and what to keep an eye on in the weeks and months ahead. Listen and subscribe wherever you get your podcasts.

People in this episode

Host: Will Compernolle

Guest: Mike Ashton

Topics covered

• inflation expectations
• TIPS
• swaps
• market analysis
• investing strategies
• fixed income

Keywords

• inflation swaps
• breakevens
• Treasuries
• TIPS
• market participants
• liquidity premium
• War in Iran

Mentioned in this episode

Organizations: Enduring Investments

Places: Iran

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