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Breakeven Inflation Swap Index Family
Tracking inflation expectations across markets

Parameta’s Breakeven Inflation Swap Indices (BISI) family provide market participants with a family of indices tracking the performance of a monthly rolling strategy investing in inflation swaps of different tenors linked to the Eurozone Harmonised Index of Consumer Prices, excluding tobacco (EMU HICP ex-tobacco), UK Retail Prices Index (UK RPI) inflation indices, or French Consumer Price Index excluding tobacco (French CPI ex-tobacco).
Each Parameta index tracks the performance of a rolling inflation swap strategy for a given tenor. At the end of each month, the strategy enters a swap at the prevailing rate, marks it to market throughout the month, and then unwinds and re‑establishes a new position at the same tenor. All indices in the BISI family are excess return indices, reflecting the performance of the swap component only.
Chart source: Parameta Solutions. All index data current as of 18/07/2025.
EMU HICP ex-tobacco Breakeven Inflation Swap Indices (EUX BISI)
Download FactsheetUK RPI Breakeven Inflation Swap indices (UKR BISI)
Download FactsheetFrench CPI ex-tobacco Breakeven Inflation Swap Indices (FRX BISI)
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