Monthly Archives: October 2013

The Federal Reserve just released its FOMC statement for it October meeting, noting that the Fed will continue its bond-buying stimulus program despite signs that the economy is improving. This was universally expected, especially in view of  upcoming budget and … Continue reading →

The Bureau of Labor Statistics today released its shutdown-delayed September inflation report, showing that ‘headline’ inflation increased a seasonally-adjusted 0.2% in September, a number matching expectations. Over the last 12 months, this index, known as the Consumer Price Index for … Continue reading →

The U.S. Treasury just posted the results of its reopening of CUSIP 912810RA8, which auctioned with a yield of 1.33% for the 29-year, 4-month remaining term. Because the coupon rate on this TIPS is 0.625% – set in the original … Continue reading →

I’ve raised this issue before, and I hope this is actually the last time I need to raise it, since yields on TIPS have risen dramatically since February 2013. But here is the problem: If you bid on CUSIP 912810RA8 … Continue reading →

Well, it’s actually a reopening of CUSIP 912810RA8, so buyers will be getting a 29-year, 4-month TIPS with a coupon rate of 0.625%. It will be going off at a huge discount, showing how volatile 30-year Treasurys can be. Right … Continue reading →

One of the side effects of the U.S. government fiscal circus of the last few weeks is that  Federal Reserve officials must be sitting on the sidelines, mouths open in horror. Sort of like Edvard Munch’s famous paintings and lithographs. … Continue reading →

We don’t know the answer to this question because of the partial U.S. government shutdown. The Bureau of Labor Statistics was due to release its September inflation report today at 8:30 a.m., but it is has not been gathering data … Continue reading →

The U.S. Treasury will formally announce this Thursday, but it has already indicated it will reopen CUSIP 912810RA8 at auction on Oct. 24, creating a 29-year, 4-month Treasury Inflation-Protected Security. Update: Here is the Treasury announcement This will be an … Continue reading →

The U.S. Treasury market has been surprisingly mundane during a month when the government partially shut down for lack of continued funding, and a potential default on U.S. debt and other obligations looms just seven days away. The stock market … Continue reading →

Last October, after a wonderful trip to Ireland and visits to Diageo’s Bushmills (whiskey, in northern Ireland)  and Guiness (beer, in Ireland) facilities, I had a thought: “Better long-term investment: 30-year TIPS or … booze?” What was interesting at the time … Continue reading →