Dare I turn curmudgeon and utter the immortal words “I told you so”? It’s tempting, even when a cavalier attitude is decidedly unwise and there are considerable difficulties in finding any certainties in the current economic climate.
But I’ve been sceptical of inflation-linked bonds for a few months now, and it’s quite a surprise that it’s taken the esteemed Financial Times until February to pay these ‘vogue’ products some sustained attention.
The cost of living soared last year, and savings accounts offered little. Consumers felt panicked by the rush to sign up for ‘limited edition’, long-term, inflation-linked bonds. But was this the right way to react to inflation hitting 5%?