FOMC statement sends TIPS higher

TIPS (TIP +0.6%) turn from lower on the session to a sizable gain following the FOMC statement where the committee brought previous dissenter Jim Bullard on board by noting inflation below the 2% objective could pose a risk to the economy.

The 10-year TIPS yield is down to 0.42% from 0.48% earlier, the 30-year down to 1.34% from 1.4%.

TIPS, of course, become more valuable as inflation rises as their principal moves alongside.

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