I wrote this as a SeekingAlpha.com exclusive … Why? It’s not a mystery. They pay me.

Here’s a summary:

• In 2016, TIPS yields have fallen much more sharply than the overall Treasury market.
• The five-year TIPS yield has fallen into a negative number, again.
• While TIPS remain inexpensive versus Treasurys, the yields today aren’t appealing.

Why is this happening? Jump over to SeekingAlpha.com to read my analysis:

Inflation Protection Is Getting More Expensive – Is It Worth It?

By the way, I’ll be posting tomorrow – also at SeekingAlpha – on the March inflation report, which will be very important for I Bond holders and potential buyers. It could result in a negative variable rate for I Bonds, reducing the composite interest to 0.0% for most I Bonds issued since 2008.

And I will updating my Tracking Inflation and I Bonds page on this site.

I will also advance next Thursday’s auction of a new 5-year TIPS.

Busy day!