10-year TIPS auction Thursday, July 10

Monday, July 7th, 2008
Categorized as: Yesterday's News (old post archive)

The Treasury announced today it will offer $8 billion in 10-year TIPS at auction on Thursday, July 10. Like Series I Savings Bonds, TIPS are a Treasury-issued inflation-protected security. Among their many differences, TIPS typically have a higher base interest rate than I bonds. Experienced I bond investors may be interested in this auction, particularly given the current I bond fixed rate of zero.

To purchase TIPS at the auction, log on to your TreasuryDirect account and place an order before Thursday. TIPS are now available in $100 increments.

As a TreasuryDirect investor, you won’t actually place an auction bid. Large financial institutions do that outside of TreasuryDirect. However, you will receive the amount of TIPS you order at the highest interest rate determined in the auction. The actual price, yield, and rate of the investment won’t be known until after the auction.

However, as of last Thursday, the Treasury calculated the 10-year yield of outstanding TIPS at 1.42%. Daily Treasury Real Yield Curve Rates is a web page the Treasury updates daily with current calculated yields for specific TIPS terms.

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FDIC Insured Certificates of Deposit can pay 1 or 2% more than savings bonds when held for a similar length of time. See top CD Rates Below:


On July 8th, 2008 Danny Pierce said:

When does the 5 year Tips auction occur?

On July 8th, 2008 Tom Adams said:

Danny – according the Treasury’s tentative auction calendar, there won’t be an offering of 5-year TIPS until Thursday, October 23.

There’s a 20-year auction coming up Thursday, July 17 and another 10-year auction on Thursday, October 6.

Tom Adams

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