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"Recently, the Treasury Department has been issuing more plain-vanilla Treasuries and fewer TIPS, even as the liquidity premium has gone up. The result has been a surge in real yields."
Nov 21 10:13 am
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All Comments by Chris B »TIPS Strips, Redux [View article]
Perhaps this is because they know this deflation hysteria will end soon, inflation will take over, and that their eventual cost for TIPS will be higher than for plain Treasuries.
Or, perhaps this is because they are unable to sell as many TIPS because the demand is no longer there due to our current deflation hysteria.
Either way, it's a chicken-or-the-egg question that ends with the government getting a lower interest rate and investors losing money when the fed fires up the printing press. When investors realize this, the snap back could be as violent as the one we saw last summer-fall, just in the opposite direction.