Jun 12: Mary Miller says supply may hit Treasuries

Mary Miller, head of fixed income at T Rowe Price, a US asset manager with over $380bn of assets under management, says that the markets are now concerned about inflation. She says that the large amount of forthcoming supply of government bonds are not yet reflected in yields, and Treasury yields may rise in 2009 and 2010 as a result. Ms Miller does not expect the Federal Reserve to raise interest rates until other policies - such as liquidity facilities and plans to purchase government and mortgage debt- are unwound.