# Which is the “correct” 5Y5Y Inflation Expectation on Bloomberg, and what are the differences?

When the market talks about 5Y5Y expectation, is it referring to FWISUS55 Index, or G0169 5Y5Y BLC2 Curncy on Bloomberg? I suspect it's the first one (e.g. comparing to FRED), but can't explain why, or what's the difference between the two.

• have you tried asking Bloomberg support (F1 F1 on the terminal)? What did they say? – Dimitri Vulis Aug 13 '20 at 2:30

I think the help desk would have been able to help. According to the DES page, FWISUS55 Index is simply 2*USSWIT10 Curncy - USSWIT5 Curncy. These are zero coupon inflation swap quotes. This is a gross oversimplification.
Seems SWIL (where these inflation swaps are used) is not supported in FWCM, where the second ticker comes from. So I guess in terms of inflation swaps, that is as good as you will get.
The second ticker is the US Treasury Inflation Indexed Curve - you can load it on GC YCGT0169 Index GC to see the constituents Inflation indexed treasury bonds on the Table.
FRED is using the latter (treasury securities). However, they transform this relative to nominal swaps. Somewhat similar data can be found on ILBE on BBG. You can select Nominal Bond v Inflation Bond.