The U.S. Treasury on Thursday will auction $17 billion in a new five-year Treasury Inflation-Protected Security - CUSIP 912828YL8. The real yield to maturity and resulting coupon rate will be set by the auction bidding.
As of Friday's market close, the Treasury was estimating that a full-term five-year TIPS would have an above-inflation real yield of 0.25%, 24 basis points higher than where it stood on September 4. Shorter-term yields popped higher Friday after the Federal Reserve announced it will buy short-term Treasury bills each month until the second quarter of 2020 to inject cash