The Treasury just auctioned 10 billion of 4 year 6months Treasury Inflation Protected Securities (TIPS) at 105.51% of principal. The coupon on these is 0.5%. It means that you'll get 2.25 total interest for the remaining term, or you are guaranteed to lose 3.26 on your purchase of 105.51 over the next four and a half years.
The "upside" is that the principal is increased annually by the inflation rate as it is reported by the government.
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