- The after-inflation yield was the lowest for any 9- to 10-year TIPS in more than a year.
- This TIPS has a coupon rate of 0.625%, so buyers paid an adjusted price of about $103.53 for $100 of par value.
- The 10-year inflation breakeven rate came in at 1.56% – pretty attractive for a 10-year TIPS.
The yield for CUSIP 912828N71 ended up being more than 10 basis points higher than where this TIPS was trading two days ago. So buyers got a higher yield and Treasury got to sell a 9- to 10-year TIPS at the lowest yield in more than a year. Everyone happy?
Treasury Inflation-Protected Securities 
that’s a lousy real yield. Since February inflation has been half of one percent. So in a year you would get .775%. Pretty terrible unless inflation explodes