Tips question for Clive

[clacy]

Clive,

Can you share how you believe TIP's will perform in a rising rate environment?  I know that the UK has had TIP's for some time and your backtesting/data abilities are impressive.

Clearly there are several factors for how bonds perform and I'm not trying to predict that rates are going to rise, but I'm curious what to expect from TIP's should that occur.

Short Term, Intermediates and Long Term.

Thanks