Definition: Given a document, generate a short title of the document. The title should convey the main idea/event/topic about which the document is being written. Note that URLs in the text have been replaced with [Link].
Input: “Europe just looks healthy ” said Bob Michele  who oversees $483 billion as head of global fixed income  currency and commodities at JPMorgan Asset Management.
Bob Michele Photographer: Kholood Eid/Bloomberg
The biggest risk “is that inflation picks up  the Fed does four hikes  not three  and without QE suddenly you get some steepening of the curve ”  Michele  said in an interview.  He  expects that to play out.
 Michele  hedges away much of the interest-rate risk in  his  portfolio with futures. Credit spreads  though they’ve tightened  still have room to absorb broad interest-rate increases  in  his  view.
What doesn’t  he  like? Anything the European Central Bank bought.

Bond Giants Lay Out Their Top Trades for 2018