MONEY managers at BlackRock Inc, Bridgewater Associates and Pacific Investment Management Co (Pimco) are shoring up their portfolios against a fresh bout of inflation.
A BlackRock fund is building short positions in US Treasuries and gilts in case lower interest rates fail to materialise. Bridgewater prefers stocks to bonds. Pimco likes the buffer afforded by Treasuries that have an inflation adjustment baked into their yield.
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