Bill Gross, co-founder of PIMCO, the largest bond trader in the world, said in spring 2021 that he expects inflation to be above target until the end of 2021. Should he sell or buy US Treasuries?

a. He should buy Treasuries because higher inflation makes the bonds more valuable.

b. He should sell Treasuries because higher inflation makes the bonds riskier.

c. Neither. There is no relationship between inflation and bonds.