TIPS "win", apparently, among bond asset groups (not sure these are completely apples-to-apples, but it's what you can buy, so it doesn't matter, from that perspective). TIPS are the Treasury's inflation-protected bonds.
Chart 1. Exchange funds tracking the bond market:
Real rates have been falling faster than nominal rates ...
Chart 2. Real rates on the Treasury's 5-yr tips
1. If you missed this (like me), then there is not that much more to go, right now, I wouldn't guess, so no point piling on, it would seem, absent an ready-Fed (unless you think the world is going to continue melting into next year - and some do).
2. This is why the dollar has been under sustained pressure, lately.
Monday, November 19, 2007
Grrr...missed this move in real rates
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