Michael Ashton
Michael Ashton, widely known as “The Inflation Guy,” is the Founder and Managing Principal of Enduring Investments, a specialized consulting and investment management firm dedicated exclusively to inflation-linked markets. A recognized authority on inflation, real assets, and derivatives, Ashton has been a central figure in the development of the U.S. inflation derivatives market for more than two decades. Since 2003, Ashton has played a pivotal role in shaping inflation-linked financial instruments. He was the primary architect behind the creation of the CPI Futures contract, which was listed by the Chicago Mercantile Exchange in February 2004, and he served as the contract’s lead market maker. This innovation helped institutionalize inflation trading and significantly advanced market transparency and liquidity. Prior to founding Enduring Investments, Ashton built extensive experience across research, sales, and trading roles at major global investment banks, including Bankers Trust, Barclays Capital, and J.P. Morgan.
Michael Ashton Professional Experience / Academic History
Professional Experience
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Founder and Managing Principal
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Senior Advisor
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Associate Director
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Vice President
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Vice President
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Associate
Academic History
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B.A., Economics, Summa Cum Laude
INFLATION EXPERTISE
Michael Ashton is a leading expert in inflation products and markets and is widely recognized for his foundational role in developing the U.S. inflation derivatives market.
During his tenure at major financial institutions, he represented approximately one-third of interbank inflation swap trading volume, underscoring his influence and market leadership.
Ashton invented and served as the sole market maker for the CME CPI Futures contract, a landmark innovation that expanded institutional access to inflation hedging.
Throughout his career, he has played a pivotal role in designing new instruments and methodologies for managing and hedging inflation risk.
He has also written and spoken extensively on inflation-indexed products, real return investing, interest rates, and broader macroeconomic trends.
EARLY CAREER
Before founding Enduring Investments, Ashton held senior roles in inflation trading and product development at Natixis, where he led innovation in inflation-linked financial products.
He previously served as an Associate Director at Barclays Capital, managing both the short-dated U.S. dollar interest rate options book and the U.S. CPI trading book.
Earlier in his career, he worked as a Vice President at Deutsche Bank and Bankers Trust, building deep expertise across rates, derivatives, and structured products.
MEDIA PRESENCE & THOUGHT LEADERSHIP
Michael Ashton has been a prolific market commentator for many years and is a frequent speaker for professional and retail audiences worldwide.
His insights have been featured in leading financial media outlets including Bloomberg, Business Insider, Yahoo! Finance, Seeking Alpha, and Real Vision.
He is the author of two books, most recently What’s Wrong With Money? The Biggest Bubble of All (2016), which examines monetary policy, inflation, and systemic risk.
Ashton also hosts the podcast “Cents and Sensibility: The Inflation Guy Podcast,” where he explores inflation, markets, and macroeconomic developments in depth.