The TIPS spread

on Sep 13, 2012 in Fixed Income, Home | 995 comments

Share On GoogleShare On FacebookShare On Twitter

The US Treasury sells notes of different yields and maturities. One type of those notes is known as TIPS or Treasury Inflation Protection Securities. A TIPS note’s yield moves based on changes in the level of CPI or consumer price inflation. If CPI or inflation is rising, the face value of a TIPS note increases and similarly the face value may fall if CPI falls. This means that TIPS are a hedge against inflation!

Comparing the yields between Treasury securities and TIPS can provide a useful measure of the market’s expectation of future CPI inflation. Why? The yield-to-maturity on a Treasury bond that pays its holder a fixed nominal coupon and principal must compensate the investor for future inflation. Thus, this nominal yield includes two components: the real rate of interest and the inflation compensation over the maturity horizon of the bond. For TIPS, the coupons and principal rise and fall with the CPI, so the yield includes only the real rate of interest. Therefore, the difference, roughly speaking, between the two yields reflects the inflation compensation over that maturity horizon.

The wider the spread between the two yields, the higher investors’ expectations are and vice versa.

From a fundamental perspective it seems that we can count on higher levels of inflation in the long term. From a portfolio management perspective TIPS are a good way to add protection against inflation and to insert an element of fixed income to your diversification strategy.

Bottom line: Higher rates of inflation can be turned into an opportunity at the investor’s discretion.

995 Comments

  1. home page

    10 July 2017

    Post a Reply

    I am extremely inspired together with your writing talents and also with the format in your blog. Is that this a paid subject matter or did you customize it yourself? Either way stay up the nice high quality writing, it is rare to peer a nice blog like this one today..

  2. home page

    14 July 2017

    Post a Reply

    Its not my first time to go to see this web page, i am visiting this website dailly and obtain good information from here daily.

  3. I have to thank you for the efforts you have put in penning this site. I’m hoping to view the same high-grade blog posts by you later on as well. In fact, your creative writing abilities has encouraged me to get my very own website now 😉

  4. my blog

    17 July 2017

    Post a Reply

    Heya i’m for the first time here. I found this board and I find It really useful & it helped me out a lot. I hope to give something back and help others like you helped me.

  5. my blog

    24 July 2017

    Post a Reply

    Hi, i believe that i noticed you visited my web site so i came to go back the prefer?.I’m trying to find things to improve my website!I guess its ok to make use of a few of your ideas!!

  6. click here

    24 July 2017

    Post a Reply

    It’s very trouble-free to find out any matter on net as compared to textbooks, as I found this article at this web site.

  7. 4zvn

    4 September 2017

    Post a Reply

    ayan, nagpakita na ng totoong kulay. kabobohan na ng taga baguio kapag binoto pa nila ulit yan. huwag kayong gumaya sa mga taga makati.

  8. 4w80

    4 September 2017

    Post a Reply

    Hi Natasha- I am so sorry that you are having issues. The brownie batter should go over the caramel easily, not sure how that is a problem. And yes, if the caramel is not covered entirely there may be edges and bits that get done faster than the center. If you cooked the bottom layer first then it should definitely not be liquid still. Can you tell me how I can re-word the directions so that this would work better for you in the future?

  9. 3yh3.header.us

    4 September 2017

    Post a Reply

    Been looking for a tool like this for my busy department. Will try out Rapid Reporter with my team and give feedback on my daily blog.

  10. 2eio

    4 September 2017

    Post a Reply

    You’re on a roll ! Loving all your different outfits recently, they look beyond cool ! That top is gorgeous, and so is that cap !

  11. 95d7.header.us

    4 September 2017

    Post a Reply

    Hi Karen! I am SO sorry there were issues. Sounds like you used quality ingredients and I am sorry about the time and expense. The only thing That I can see that might have gone wrong it… did you pour half the brownie mixture into the pan and bake it? Then remove the baked brownies, add the caramel and remaining brownie and bake longer?

  12. arc

    4 September 2017

    Post a Reply

    I was diagnosed HIV+ 2012 October and then my CD4 was 285 my doctor decided that i should be on treatment, but i was reluctant. In December 2013 i got sick with shingles. This year i decided to start treatment . I’ve started Tribuss. What are the side effects?

  13. 7gqw

    4 September 2017

    Post a Reply

    ayan, nagpakita na ng totoong kulay. kabobohan na ng taga baguio kapag binoto pa nila ulit yan. huwag kayong gumaya sa mga taga makati.

  14. 26u

    4 September 2017

    Post a Reply

    Things that are good for a healthy life are equally important for both partners. If both partners are HIV positive you will have some of the same shared experiences and can support each other. Also, you do not need to worry about the risk of HIV transmission if you are both positive.

  15. 90th

    4 September 2017

    Post a Reply

    How long it takes to get used to Odimune? I have been in Odimune for a year but still feel dizzy all the time and i am a shift worker. It worries me at times.

  16. 5twv

    4 September 2017

    Post a Reply

    Hi. I tested HIV positive on the 4th of July and I started taking Atroiza the following day. I was seven weeks pregnant by then. On the 15th of July I had a miscarriage. Could my miscarriage have been caused by the drug? Please help me with what drug I can take so I won’t have another miscarriage as I Would like to try for another baby.

  17. 5i4m

    4 September 2017

    Post a Reply

    I.M a 38 and HIV + and on ARV’s since from 2008 is it possible for me to have a healthy baby without infecting my wife?

  18. 4o7x.header.us

    4 September 2017

    Post a Reply

    Hey, I am sorry to hear about your recent diagnosis. This is never easy news to get, but is does get easier and you will be ok. You are in the same situation as lots of other people.

  19. 97qb

    4 September 2017

    Post a Reply

    I subcontract from Medicaid. I have a client that has had aids for 26 years. Him nd I are very close. He’s one of my best friends. His T cells are 100 I’m very worried . Is there anything we can do

  20. an99

    4 September 2017

    Post a Reply

    Hi i was using tribuss but i ran out of my treatment so my friend gave me atroiza can i take it

  21. 9741.header.us

    4 September 2017

    Post a Reply

    Hello, I stated taking Atrozia last week Tuesday and my feet were itching for only two days and it stoped and I’m taking the pill @ night

  22. 2wx8.header.us

    4 September 2017

    Post a Reply

    Transit TV generated very little revenue for Metro – maybe the cost of a bus a year. I would rather pay an extra five or ten cents per trip than listen to that annoyance. Good riddance, even if I did enter a contest occasionally.

  23. 2z8z.header.us

    4 September 2017

    Post a Reply

    Kindly advise, I have developed rash on my face and this worries me as I think it can be an alarm for starting my meds. Last year my CD4 count was 948 and I am due for recent tests. Is it advisable to start your meds while your counts are above 500?

  24. 8ipo.header.us

    4 September 2017

    Post a Reply

    I read once ( about 8 years ago). That technology is a great tool, but it wont replace learning fundamentals. Some of these kids never had to write notes. Different world we live in now huh?

  25. dmv

    4 September 2017

    Post a Reply

    Hi i jst need to know how dangerous is it if i dnt proceed with the tablet named norstan isonniazid.i have been diagnosed to hiv and my doctor told me my cd4 count is down to 295.i am afraid to start arvs.is it posible for it to be up again without taking treament?i am just so afraid.please help

  26. aa09

    4 September 2017

    Post a Reply

    sorry but that letter just sounds like it’s full of excuses. It’s a good thing that someone finally gets our emotions stirred because there is truth in it. As the cliche saying goes, you have to be cruel to be kind. Hopefully everyone sees the light in the midst of all this negative publicity for our Government.

  27. 1u2x.header.us

    4 September 2017

    Post a Reply

    Also, I fully admit that the “psychological benefit of the doubt” can be a very self-righteous and condescending response to another person, but I don’t know of anything better yet. I suppose it’s less condescending if one remains open about ones own temporality of self-control. Emotions are just like that. Or so my experience has been thus far.

  28. aido

    4 September 2017

    Post a Reply

    I am doing a animation webliography for a class in high school and we needed an online publication. I loved the set up of your website and the idea of it being peer edited, so i used it in my presentation.

  29. 2eq9.header.us

    4 September 2017

    Post a Reply

    early favorite si colombia sa mga youtube at okey din exposure nia. ang prediction nga sa mga youtube si colombia ang mananalo at tama nga.

  30. 9rao

    4 September 2017

    Post a Reply

    Several times when I have been on a Metro bus that has those transit tv monitors; even when they were working no one that I saw was even looking at them.

  31. 4wg5

    4 September 2017

    Post a Reply

    This is perfect, I love the simple looks and the little details like the zipper on the leg looks amazing!

  32. bma3

    7 September 2017

    Post a Reply

    My fiancee has been on treatment for twelve years now. We use protection but is it safe for us to have unprotected sex? We want to have a baby.

  33. 42m6

    7 September 2017

    Post a Reply

    Atroiza and Atripla both contain the same active drugs, just made by different manufacturers. You should not noticed any difference between them. Please note that we are not doctors.

  34. 4aco

    7 September 2017

    Post a Reply

    Hiya, Im 49 now but we had a child in 2002 so he was conceived in 2001 sometime. I was already HIV positive and unfortunately did not know I was positive. He was born is good health and HIV negative and is now 10 years old so I would say your chances are as good as anyone else to have a healthy kid.

  35. 299q

    7 September 2017

    Post a Reply

    thank you very useful article for me. It helped me greatly and finally I was able to remove those attribution stuff in WordPress!

  36. 1a5e

    7 September 2017

    Post a Reply

    These are things your friend needs to talk about with here doctor and HIV health care team. Getting an HIV positive test result is difficult and stressful. It takes time and support. Learning you are positive when you are pregnant also involves finding out about treatment, and using this during the pregnancy to reduce the risk of passing HIV to the baby.

  37. 7nxb

    7 September 2017

    Post a Reply

    Hi, sorry for being so slow. I just noticed today, after months of shying the commas in my notes, that it actually converts the commas to semi-colons.

  38. 4qr7.tapeworm.us

    7 September 2017

    Post a Reply

    Incredible! I always wanted to like Illinoise – but couldn’t quite warm to it. This reimagining of it is so deep, dude. Thanks for the killer tunes!

  39. 6h78.tapeworm.us

    7 September 2017

    Post a Reply

    Beware the man who wants a position in your life wherein he can sabotage your livelihood, income, or projects. You’ll know the signs. Don’t give him trust.

  40. awk1

    7 September 2017

    Post a Reply

    I am 28 years old and I am HIV positive since 2010. I am strong and fit and it was difficult for me to accept but one day I told my partner about it and she went and got tested. We found out she is negative. She is very supportive and she is looking after me and make sure that I eat well. Now I am taking Odimune and I don’t even have side effects. Can i mix alcohol and Odimune?

  41. 7gcm.tapeworm.us

    7 September 2017

    Post a Reply

    Im 50, I found I had HIV , 3 years ago. I take my medication , exercise. Etc but my cd4 seems to have stuck at 144 , will the HIV become aids

  42. axqk.tapeworm.us

    7 September 2017

    Post a Reply

    Boy, the Zen gang has so much more fun than us banal Shambhala people. We started out with a wildly flamboyant teacher and it seems like everything since has been about homogenizing and smiling sweetly and creating McDharma centers. I just might have to find myself some black cushions and decamp to the local Zen center where I can stir up trouble by declaring my loyalty to Brad. (I do that a lot at Shambhala gatherings but they all just stare at me blankly, they are really not a bunch that likes to go off the reservation.)

  43. a8to.tapeworm.us

    7 September 2017

    Post a Reply

    I have been going through some challenging times lately. I have an attraction towards long legs. Do not ask me why. Yesterday I went to see Sumatra Tigers at a Park and today walking in a populated area near a lagoon after seeing a bunch of white birds at a distance fly back and forth I saw a coyote run in front of me from a golf area across a street to another bushed area before the next golf area. Yes it did look at me. I feel guilty as I told the people at the resort about it and hope it’s smart enough not to get caught. Then I looked this up. Amazing to think of an animal being a spirit that is watching over me and yes I could do with some nice surprises soon.

  44. 3zuf

    7 September 2017

    Post a Reply

    hi my girlfriend she is HIV positive and we being sleeping together for 8 month without condoms but i test negetive how possible is that? They said i must return after 6 week if is still negetive am i haven’t got HIV?

  45. c4u0

    7 September 2017

    Post a Reply

    Hi, sorry for being so slow. I just noticed today, after months of shying the commas in my notes, that it actually converts the commas to semi-colons.

  46. 5zi0

    7 September 2017

    Post a Reply

    I love how you put that hat with this outfit. You always have the perfect mix of dressed up and casual cool!

  47. c2q2

    7 September 2017

    Post a Reply

    I dreamed that I was walking next to a beautiful, huge chestnut horse. As we were getting closer to the stables I saw a man hitting a horse, also a chestnut, the horse was on it’s hind legs trying to pull free. Then suddenly the horse lay down on it’s side. Blood was flowing from it’s side. I was shocked at what I saw and started running towards the stables, shouting at the man to stop and saw that there were 3 horse’s lying on their sides with blood streaming out the wounds. When I reached the horses I was relieved to see that they were stil alive and that I could still help them. Then I woke up.

  48. 5pcu.tapeworm.us

    7 September 2017

    Post a Reply

    I don’t always finish my bottle. Tile murals work well over the prime of the apples. A little later than most of the packaging specialty stores all through the Barri Gotic aged town.

  49. 331f

    9 September 2017

    Post a Reply

    22 march 2013 i tested my blood is positive and then my freind told me for elisa test in that test is hiv is reaction test valua is 3.07 and cut of valua is 0.09 please help me can is there treatment

  50. 1rb0

    9 September 2017

    Post a Reply

    The National Cattlemen’s Beef Association encourages all blog readers, including NCBA members, employees and the general public, to comment and engage in respectful conversation about the content posted here. All thoughtful, polite and concise comments are welcome. All comments will be monitored as carefully and consistently as possible. Moderators have the right to shorten, move or delete any comment at any time. Any comments that contain profanity, vulgarity, threats, commercial promotion, incoherence, etc., will not be published and will be immediately deleted. Please refrain from posting full articles and publications from other sites, as it could be a violation of copyright or intellectual property laws. Comments containing full articles will not be approved but comments containing links are welcome. Thank you for your cooperation. Happy blogging!

  51. 3v8

    9 September 2017

    Post a Reply

    good instrumental; thank you. ? i need a remix executive producer?i need a producer. youlanda patterson

  52. 4m3s

    9 September 2017

    Post a Reply

    I dreamed that I was walking next to a beautiful, huge chestnut horse. As we were getting closer to the stables I saw a man hitting a horse, also a chestnut, the horse was on it’s hind legs trying to pull free. Then suddenly the horse lay down on it’s side. Blood was flowing from it’s side. I was shocked at what I saw and started running towards the stables, shouting at the man to stop and saw that there were 3 horse’s lying on their sides with blood streaming out the wounds. When I reached the horses I was relieved to see that they were stil alive and that I could still help them. Then I woke up.

  53. 8ich

    9 September 2017

    Post a Reply

    One has to suppose that, all through Buddhism’s history, the number of those who truly understood what it was all about always remained minimal.

  54. 8cfu

    9 September 2017

    Post a Reply

    I’ve been HIV positive since 2010. I was on the treatment and nothing was wrong with me but in May 2014 they gave a pill called Atroiza and now they gave me another one call Odimune I want to know they are not going to make me sick? What is the difference?

  55. 2512.tapeworm.us

    9 September 2017

    Post a Reply

    Beware the man who wants a position in your life wherein he can sabotage your livelihood, income, or projects. You’ll know the signs. Don’t give him trust.

  56. 38ft.tapeworm.us

    9 September 2017

    Post a Reply

    Long rainy day yesterday, in the nest area. Today promises to be a drying out day. I imagine the BVs in a horaltic pose preparing for the day ahead.

  57. 8ouj.tapeworm.us

    9 September 2017

    Post a Reply

    Hahaha, I guess Metro finally wised up and dumped something that was so lame, cheap and cheesy. Even LAUSD telecommunications classes had better production values than Transit TV did!

  58. b7xc

    9 September 2017

    Post a Reply

    Absolutely love this effortlessly chic mix!!! Also I think it fits your personality and style just perfectly! And I’m so jealous of this warm weather, we are so tired of snow and cold here in New York….

  59. 1xxm.tapeworm.us

    10 September 2017

    Post a Reply

    Hi. Unexplained weight loss, like other symptoms, is something to talk to your doctor about. This is in case it is a symptoms of something else and not a side effect of treatment.

  60. 1mtu

    10 September 2017

    Post a Reply

    I want to know what to do because I work shifts and these tablets make me dizzy , I want to know if its possible to change and drink them at any time of the day depending on my shifts or should I stick to the time that I am taking them everyday?

  61. avb4

    10 September 2017

    Post a Reply

    Greetings! I have installed the latest version of redline (Fantastic theme) I have been using the redline theme since ver 1.x It seems that you have removed the custom favicon. What is the current way to install a favicon?

  62. 3a4h

    10 September 2017

    Post a Reply

    For me the lion has always been a protective spirit. When I dream a lion (always a male African Savanah lion), it is fighting by my side, sleeping next to me to keep me warm, or giving me advice. But yes, I do usually dream one when I feel I have been treated unjustly.

  63. p1n

    10 September 2017

    Post a Reply

    I keep seeing coyotes either in the middle eb of the road staring at me or running across the road orout infields playing I am just wonderingif that has any meaning and I livein the city so its not like its common and I do not believe in coincedants

  64. 50qa

    10 September 2017

    Post a Reply

    Hi, my name is Henok. I tested HIV two weeks ago and the result was positive. Also my CD4 count is 410. I am now taking some medication for the primary “herper zoster” infection. Can I start ART drugs?

  65. 20vt

    10 September 2017

    Post a Reply

    I made these last night and it was a disaster so I’m hoping you might be able to help me figure out where I went wrong. The recipe didn’t state what temp to bake at so I just did it at 350 degrees.

  66. 832r

    10 September 2017

    Post a Reply

    ID!OT FANS OF DINGDONG & MARIAN ARE BEHIND METAL BARRICADES?……”Fans and spectators behind metal barricades cheered and waved frantically when celebrities stepped out of luxury vehicles”. Idiot fans must learn to embrace the reality and move on. Don’t allow yourselves to be fooled by actors and celebrities anymore. Fans love their idols so much but look what your idols have done to you? All of you are not invited. Hangang metal barricades lang kayo. Gets nyo?

  67. bauf

    10 September 2017

    Post a Reply

    One of the sickest mashup playlists I have ever fucking heard. Go-to album on my ipod for a year plus. Thank you for this, but to echo others, I WANT MORE!

  68. 9p7j

    10 September 2017

    Post a Reply

    wow, its really very amazing chance to the reader of acme blog.Thanz admin for this opurtunity most amagzing thing if I will win its a miracle for me .

  69. akr0

    10 September 2017

    Post a Reply

    I started the Atroiza combination drug on the 9th of april. I have been just vomiting in the mornings but my doc said it might be not the treatment but the pregnancy.

  70. 1koq.tapeworm.us

    10 September 2017

    Post a Reply

    Hi, I found out I’m hiv+ early this year when I was pregnant. I checked my CD4 count again two months after I gave birth and it was 896, is it ok to take Atroiza?

  71. 334w.tapeworm.us

    10 September 2017

    Post a Reply

    My viral load is 856 for over 3years I tested +, I am still on routine drugs, when will I start d main + drugs… Again Hw can I get a + man for marriage course am of age nw,am about 25+. I cannot change d situation’so I have no option than to accept it…

  72. Kevinmap

    25 September 2017

    Post a Reply

    canadian pharmacy-viagra
    drug prices

    cialis/canadian pharmacy
    [url=http://www.hachmuth.com/forums/discussion/26648/can-a-canadian-pharmacy-deliver-similar-drugs]cialis prices canada[/url]

    generic cialis online pharmacy

  73. Cherie Keri

    4 October 2017

    Post a Reply

    Hey! This post couldn’t be written any better! Reading through this post reminds me of my previous room mate! He always kept chatting about this. I will forward this article to him. Fairly certain he will have a good read. Many thanks for sharing!

  74. WUNDERBARE Post.danks für share..extra wait ..? Es gibt definitiv viele Details wie das zu berücksichtigen. Das ist ein großartiger Punkt, um zu tragen. Ich stelle die Gedanken oben als grundlegende Inspiration, aber klar gibt es Fragen wie die, die Sie tragen den Ort ein wichtiger Faktor wird in aufrichtigen guten Glauben zu arbeiten. Ich weiß nicht, ob die größten Praktiken um solche Probleme herumgetreten sind, aber ich bin sicher, dass Ihr Job eindeutig als faires Spiel identifiziert wird. Sowohl Jungen als auch Mädchen spüren den Eindruck von nur einer Sekunde Freude, für den Rest ihres Lebens.

  75. kamagra tabletki

    14 October 2017

    Post a Reply

    W podpory o viagrze sprawdzone artyzmow oraz niezmiernie wysokie sprawdzian niekrajowych fachmanow stanowimy w poziomie w ogromnie wydajny wybieg dopomagac rehabilitacja zaklocen erekcyjnych u grosow dzisiejszych pankow. Uzytkujac przetestowane natomiast w sum wyprobowane za posrednictwem nas metody od momentu latek zanosimy pokazne fortuny w dyscyplinie rehabilitacja oschlosci seksualnej. Wreczane za posrednictwem nas lekow na potencje gratisowe konsultacje lecznicze stoja na mozliwie najwazniejszym rzedzie.

  76. kamagra cena

    14 October 2017

    Post a Reply

    Co chwila szybsze viagrze ped losy w skreceniu sposrod jego stresujacym nurtem przyczynia sie do podwyzszenia rzeczy z wzwod miedzy wielu dzisiejszych panow. Opuszczajac naprzeciw ich potrzebom serw polski proponuje aktywna prawa reka w zaswiadczaniu najwazniejszej postania sluzb w tym limicie. Pozyskajze wprawne wsparcie dodatkowo odwiedzajze nasz serw aktualnie obecnie zas zwerbujesz sie na sposob mnogosc zdolasz wygrac w udoskonaleniu lekow na potencje historyjek plciowych ze wlasna znajoma.

  77. viagranajtaniej

    14 October 2017

    Post a Reply

    Szukasz viagrze skutecznego plecy w obszarze gratisowych konsultacji nielekarskich realizujacych Twoje prognozowania zaopatrujacych najedzona dyskrecje czynnosci, zajrzyjze wlasny nowoczesnie pelen energii serw, w jakim uzyskasz najwazniejszej, proby usluge medyczna w odcinku kuracje przeszkody z wzwodem. Az do dnia wspolczesnego pomoglismy uprzednio niezwykle wielu gosciom poszukujacym aktywnego terapie impotencji lekami na potencje takze niedrugiego rodzaju dyskomfortow przejmujacej suchosci seksualnej.