Just when it seems we really need inflation protection, investments in inflation protection are looking awful. Or, more accurately, just when it seems like we need safe investments, safe investments are looking awful.
Welcome to June 2020 in our virus-stricken United States.
The U.S. Treasury on Thursday will offer $15 billion in a reopening auction of CUSIP 912828ZJ2, creating a 4-year, 10-month Treasury Inflation Protected Security. Depending on how you look at our nation's near-term future, this offering is either enticing (for solid reasons) or total garbage (also for solid reasons). I'm leaning 75% toward