Summary
- The after-inflation yield of 0.450% was 20 basis points higher than where 10-year TIPS were trading on September 8.
- Today’s investors benefited from the Federal Reserve’s announced intention Wednesday to unwind its bond portfolio and continue gradually increasing short-term rates.
- The inflation breakeven rate of 1.82% is in the mid-range of recent results, but continues to indicate muted inflation expectations.
Treasury Inflation-Protected Securities 
This is my struggle. Stocks have gone through the roof— both domestic and international. Talk about an inflation hedge— wow…