Obamacare Wins U.S. Bond Converts as Slowing Costs Tame CPI
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Regardless of what Americans think about Obamacare, reining in health-care costs is winning the support of investors in U.S. Treasuries.
After doubling in the past two decades, medical expenses rose less last year than at any time since Harry S. Truman was president in 1949, helped by Medicare reimbursement cuts. The rollout of President Barack Obama’s signature 2010 law will hold down consumer prices for years to come as millions of Americans obtain coverage under the Patient Protection and Affordable Care Act, BNP Paribas SA and Credit Suisse Group AG said.