#vanguard asset management

The post Bitcoin Holds Near $64K as Vanguard Bets Inflation Is Underpriced appeared on BitcoinEthereumNews.com. Crypto News Vanguard Asset Management has opened a long position in short-dated US inflation-protected Treasuries, betting that markets are underpricing the risk that price pressures stay elevated. The move by the firm’s active-funds team follows a sharp widening in the crack spread — the gap between refined-fuel prices and the crude oil used to produce them — to its highest reading since 2022. For a bond desk, that signal rarely registers. Our reading is that it matters far beyond fixed income: sticky inflation reshapes rate-cut expectations, and every rate-sensitive risk asset, Bitcoin (BTC) included, trades off that path. The hedge is a direct wager that disinflation is not yet finished. The crack spread is a staple gauge for oil traders but an obscure one for macro investors, which is precisely why this move stands out. It has widened to levels last seen in 2022, even as

The post Is the Market Underpricing Inflation? Vanguard Thinks So appeared on BitcoinEthereumNews.com. Vanguard Asset Management is buying insurance against stickier US inflation after an oil-market gauge, the crack spread, reached a 2022 high. The firm’s active funds team opened a long position in short-dated inflation-protected Treasuries. It is betting that markets underprice the risk that price pressures linger longer than expected. An Oil-Market Signal Bond Investors Rarely Watch The crack spread measures the difference between the prices of refined fuels and the crude oil used to make them. It is a typical metric for oil traders. For bond investors, it barely registers. However, the crack spread has widened to its highest level since 2022. Crude has slumped since the fragile US-Iran ceasefire.  Gasoline has fallen, but has not matched the drop. At the same time, jet fuel, diesel, and fuel oil are also behaving differently in relation to oil prices. It is worth noting that elevate