An Analysis of Equity & Bond Real Returns
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Document ID: 2000-629 (previously 2000/019)
Published on: 31st August 2000
Equities are often viewed as a "real" asset - a hedge against inflation. Our simple analysis suggests that the relationship between equities and inflation is far less straightforward. Whilst equities have coped with periods of higher inflation far better than bond investments, they are far from immune from inflation surprises.
