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Using Corporate Inflation Protected Securities to Hedge Interest Rate Risk

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  • L. Dwayne Barney
  • Keith D. Harvey

Abstract

In the first half of 2008, rising inflation became a concern, but by the fall the focus was on deflation. Such shifts in the outlook for inflation represent a significant risk for some companies, particularly those whose revenues and profits are negatively affected by increases in inflation and rates. For such companies, the use of long-term fixed-rate debt will provide at least a partial hedge against increased rates. Copyright Copyright (c) 2009 Morgan Stanley.

Suggested Citation

  • L. Dwayne Barney & Keith D. Harvey, 2009. "Using Corporate Inflation Protected Securities to Hedge Interest Rate Risk," Journal of Applied Corporate Finance, Morgan Stanley, vol. 21(4), pages 97-103.
  • Handle: RePEc:bla:jacrfn:v:21:y:2009:i:4:p:97-103
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