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| As part of an automatic savings plan I have an account that purchases treasury instruments. Last night the purchase was for a five year TIPS. Seems I paid $109 for a $100 bond yielding .125 interest rate.
I went back in my history and that’s the highest I’ve ever paid, not unusual for it to be above the par amount but many times it has been below.
I couldn’t find how much the treasury sold last night, but I would be surprised if mine was the only one. Someone is counting on inflation to make up the difference. | |
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