Summary
- Buy-and-trade investors ought to be at least a little frightened; 30-year TIPS are very volatile investments.
- The real yield for this TIPS is currently trading very close to the 0.875% coupon rate. It should auction at close to par value, plus accrued inflation.
- The inflation breakeven rate is about 1.93%, which I consider ‘fair value’ versus a 30-year nominal Treasury.
Treasury Inflation-Protected Securities 
I'll be brief: Great article ! Thank you !