Monthly Archives: May 2020

10-Year TIPS Reopening Gets Real Yield Of -0.47%, Lowest Since 2013

Summary In its five-month auction history, CUSIP 912828Z37 showed remarkable volatility, with a swing of 115 basis points from March to May. Today’s real yield of -0.47% was the lowest at auction for any 9- to 10-year TIPS since March … Continue reading

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After A Surreal Surge, This 10-Year TIPS Is Now Depressingly Normal

Summary The Treasury will reopen a 10-year TIPS at auction on Thursday, with the real yield to maturity expected to be well below zero. This TIPS — CUSIP 912828Z37 — had an amazing reopening auction in March, just as Treasury … Continue reading

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