摘要：Investors generally face inflation-linked obligations—a fact
contributing to the popularity of TIPS and other inflation-linked
bonds. With TIPS, one characterization of inflation, the
Consumer Price Index, applies to all investors. Investors,
however, face different flavors of inflation. To date, these
heterogeneous needs have not been addressed by the inflationlinked
marketplace. The paper describes the case for and
mechanics of splitting TIPS into disaggregated TIPS matched to
components of the Consumer Price Index. Disaggregated TIPS
better address investors’ specific real liabilities.
