Inflation derivatives house of the year - Barclays Capital

The inflation market used to be a calm place, littered with sure things and safe bets. Prior to the crisis, central banks had been doing a solid job of keeping inflation steady and, as a result, inflation-linked products traded in a predictable way. As 2008 wore on, that began to change: uncertainty about the future path of inflation injected unprecedented volatility into a market that was never liquid at the best of times. Liquidity thinned out even more in the last quarter of that year, with