Investors and retirees alike will have to take note of their fixed income portfolios, as the country anticipates higher inflation and interest rates under a Trump administration, CalSTRS Chief Investment Officer Christopher Ailman told CNBC.
Appearing on CNBC’s “Squawk on the Street,” Ailman said that the 10-year and three-year U.S. Treasurys have been in a channel, or trading in a specific price range, for over 30 years — a trend that inflation could seriously disrupt.
Video interview with Chris Ailman runs 00:04:12 in duration.
That’s the riddle confronting investors in Pershing Square Holdings Ltd., the closed-end fund run by the prominent activist investor Bill Ackman.
In a letter to investors this month, Mr. Ackman disclosed that through the end of November, the fund had declined 13.5 percent this year after accounting for fees. (Pershing Square Holdings shouldn’t be confused with Pershing Square L.P., Mr. Ackman’s hedge fund, although the two vehicles have the same investment strategy.)
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