- The real (after-inflation) yield looks likely to top 1.00% for the first time for any 9- to 10-year TIPS auction since January 2011.
- The inflation breakeven rate is currently a reasonable 2.02% and should attract strong demand at this auction.
- Buy it or not? Well, do you think interest rates will continue to rise, or have peaked? A tempting 5-year reopening is coming in December.