The U.S. Treasury announced last week that it will offer $11 billion in a reopening auction Thursday of CUSIP 9128285W6, creating a 9-year, 8-month Treasury Inflation-Protected Security.
This reopening will be another indication of how greatly the market for Treasuries overall and TIPS in particular has changed since the originating auction for this TIPS on January 17. That auction generated a real yield to maturity of 0.919% and resulted in a coupon rate of 0.875%.
The "real yield to maturity" indicates the amount a TIPS investor will earn above inflation. The principal balance of a