Summary
- The after-inflation yield for CUSIP 912828X39 came in right at the expected number, rising 12 basis points since the originating auction on April 20.
- The inflation breakeven rate was 1.66%, which is attractive when measured against nominal Treasurys.
- This TIPS will have one more reopening auction in December. That one will be worth watching.
Treasury Inflation-Protected Securities 
It has been said that all wars are wars of religion. Our country is based on Judeo-Christian principals, along with…