Pacific Investment Management Co. says U.S. inflation is poisedto quicken — at a time when costs are falling at the fastest pacein five years.

Pimco, which runs the world's biggest actively managed bondfund, said it likes Treasury Inflation Protected Securities.Federal Reserve efforts to spur the economy will push prices highenough to surprise investors, according to the company.

“We see value in U.S. inflation-linked bonds,” Scott Mather, thechief investment officer for U.S. core strategies, wrote on thecompany's website Wednesday. “The extraordinary policy response ofthe past few years could result in more inflation thanexpected.”

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