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$7 Billion 4.5 Year TIPS Auction Closes At 0.769% High Yield
- Yields 0.769% vs. Exp. 0.939%
- Bid-To-Cover 3.10 vs. Prev. 1.81
- Indirects 47.8% vs. Prev. 23.73%
- Indirect Bid-To-Cover 1.53x
- Allotted at high 38.26%
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I don't get it. The dollar gets weaker and bond yields go down?
If it makes no sense, it makes perfect sense.
At least since ~May
I don't get it. The dollar gets weaker and bond yields go down?
I've gotta wonder about what it is going to look like when the "implied inflation" relationship breaks down between TIPS and vanilla bonds.
Tyler, what does that mean? A good or a bad sign?
Thanks in advance
What was going on TD?while the USD went up almost 1.2% since Tokyo started trading,the 10 y shot up from 3.47% last night to almost 3.54% now. With 20 points drop in the s&p,the only logical explanation is that there is not enough dollars to buy tbs??!!. So take a little from the s&p with a little from the Euro zone(did the European market tank at that time?).So what would happen by the time the 10 y (or if)gets to,say 4%..........
When does the last of the $123B get auctioned?
Doesn't look like inflation, does it? Bond traders are the smartest in the room...
I bought some of this issue in my IRA.
I am dumbfounded by the TIPS.
\The gov has plenty of ways to say inflation is non existent, when everything you need to live is inflating and the frivolous stuff is deflating.
so what is the point of TIPS when they massively understate inflation? They steal your money through inflation, then understate what it really is. Then they steal it again by taking most of your return away.
what am I missing?