Search found 2987 matches

by #Cruncher
Fri Oct 25, 2019 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Option of Taking Inflation Adjusted Pension - Your Thoughts?
Replies: 6
Views: 760

Re: Option of Taking Inflation Adjusted Pension - Your Thoughts?

By my calculations it looks like a breakeven at age 85. That would indeed be the case if the inflation adjustment is 2% every year starting at age 76. For constant CPI increases of 1%, 2%, 3%, and 4% the following table shows the cash flow differences of the inflation-indexed pension versus the non...
by #Cruncher
Fri Oct 25, 2019 7:46 am
Forum: Personal Investments
Topic: Early pension option advice
Replies: 11
Views: 1481

Re: Early pension option advice

Choice B – Monthly pymts. Beginning 12/2019 ...– TOTAL $495 monthly Choice C – Monthly pymts. retirement at age 60 beginning 12/2027 ... TOTAL $1,182 monthly or…. Retirement at age 65 beginning 12/2032 ... TOTAL $1,199 monthly Here are the Internal Rates of Return (IRR) I get for each of the three ...
by #Cruncher
Thu Oct 24, 2019 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Mort. Refi math question - how to calculate mid term prepay
Replies: 5
Views: 369

Re: Mort. Refi math question - how to calculate mid term prepay

I currently have a 4% 30 year loan ... I'm contemplating refi-ing to a 3% 15 (since I'm prepaying roughly that amount now ...) It would take you 16.5 years to pay off the old 4% loan if you made the same monthly payment as on the new 3% 15 year loan. This is independent of the loan balance and can ...
by #Cruncher
Tue Oct 22, 2019 11:36 am
Forum: Investing - Theory, News & General
Topic: Hidden liquidity risk with I-bonds
Replies: 43
Views: 4891

Re: Hidden liquidity risk with I-bonds

… after 5 years they act more like an inflation indexed savings account. Not really. The interest rate on a savings account tends to move up and down with market rates. But the fixed rate on an I bond stays the same for 30 years. While I don't think I'd use the term "liquidity risk", I agree with t...
by #Cruncher
Tue Oct 22, 2019 8:41 am
Forum: Personal Investments
Topic: Pension Question
Replies: 12
Views: 1856

Re: Pension Question

Any idea how much Roth conversion at some favorable tax rate would be enough to move the dial on the pension timing? You're suggesting including income tax when evaluating delaying the pension; specifically in the case of doing more Roth conversions before starting the pension. In theory this would...
by #Cruncher
Sun Oct 20, 2019 9:49 pm
Forum: Personal Investments
Topic: Pension Question
Replies: 12
Views: 1856

Re: Pension Question

For every year that I delay, the monthly amount increases by 4.5%. A 4.5% annual increase in a non-CPI indexed pension is paltry. By comparison, for someone with a Normal Retirement Age (NRA) of 67, Social Security increases between 6.7% and 8.3% per year -- and it is CPI indexed. (See last row of ...
by #Cruncher
Sat Oct 19, 2019 12:28 pm
Forum: Investing - Theory, News & General
Topic: Treasury auction of 5 year TIPS coming up....
Replies: 33
Views: 3593

Re: Treasury auction of 5 year TIPS coming up....

i recall it gave a real yield of something like 0.05%... Yes, the yield came in at only 0.054% as shown on the aucton results PDF . This was lower than the yield of the outstanding April 2024 5-year issue -- partially due to seasonal differences between April 15 and October 15 in the CPI used to ad...
by #Cruncher
Thu Oct 17, 2019 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: Another GE Pension Buyout Decision
Replies: 7
Views: 1418

Re: Another GE Pension Buyout Decision

Using present value calculators, option 4 [$2,000/month @ age 65], if you live to 85, will give you nominal return of 5%. That's close to the 4.6% I get. However, option 3 ($1,500/month @ age 60) is slightly higher at 4.9%. (Scroll down in the following table to see.) Overall, option 3 looks best. ...
by #Cruncher
Wed Oct 16, 2019 10:32 am
Forum: Personal Finance (Not Investing)
Topic: mortgage refinance math--locking in today
Replies: 6
Views: 548

Re: mortgage refinance math--locking in today

option 1: 3% interest rate (3.035% APR) plus $3300 in closing costs option 2: 2.675% (2.923% APR) plus $11K in closing costs First, check the quoted rates for option 2. The annualized rate for 2.675% is 2.708%, not 2.923%. 2.708% = (1 + 0.02675 / 12) ^ 12 - 1 Assuming the 2.675% is correct, you wou...
by #Cruncher
Mon Oct 14, 2019 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Lump Sum Offer/Pension Buy Out (not from GE)
Replies: 6
Views: 1064

Re: Lump Sum Offer/Pension Buy Out (not from GE)

In order to approximate the annual return of $9,900 from the annuity offered now ($198,000 over 20 years), you would have to earn a return of at least 5.6% on the lump sum of $177,000 ... 5.6% (9900 / 177000) would be the return only if the annuity lasted forever . If it lasted just 20 years, the r...
by #Cruncher
Sun Oct 13, 2019 5:30 pm
Forum: Investing - Theory, News & General
Topic: Treasury auction of 5 year TIPS coming up....
Replies: 33
Views: 3593

Re: Treasury auction of 5 year TIPS coming up....

How do you know about this offering? How can you buy TIPS? Yes, refer to the Tentative Auction Schedule PDF file mentioned by PJW in this post .Then, about the middle of each month, the official TIPS auction info is shown on the Upcoming Auctions page . Most brokers will accept orders from the "Ann...
by #Cruncher
Sat Oct 05, 2019 7:24 pm
Forum: Personal Investments
Topic: Lump sum vs Pension
Replies: 20
Views: 2345

Re: Lump sum vs Pension

An estimate [of the pension's present value] can be made, but it's pretty complicated math. In addition to valuing the expected return using average or predicted mortality, you'd need to value the embedded call option associated with the chance of collecting the pension income for longer than the a...
by #Cruncher
Wed Oct 02, 2019 11:54 am
Forum: Personal Investments
Topic: Series I bonds - question about compounding interest
Replies: 18
Views: 1899

Re: Series I bonds - question about compounding interest

The interest payments within a semi-annual earning period are not necessarily the same each month. An I Bond that I have made the following sequence of interest payments during one semi-annual earning period: $6.40, $8.00, $6.40, $8.00, $6.40, $8.00. This generally arises because of rounding. The v...
by #Cruncher
Mon Sep 30, 2019 4:08 pm
Forum: Investing - Theory, News & General
Topic: Consistent Yield & Duration to Help Choose TIPS Fund
Replies: 113
Views: 36303

Re: Consistent Yield & Duration to Help Choose TIPS Fund

I've updated the Yield to Maturity and Duration Calculator with WSJ TIPS Prices 9/30/2019 [*] and the weighting effect of the 10-year auctions in July & September and the 30-year auction in August. As shown in the table below, the weighted average yield of the bonds in the 1+ years broad index (0.34...
by #Cruncher
Sat Sep 28, 2019 8:17 pm
Forum: Investing - Theory, News & General
Topic: Interest Rate Risk: Two Views
Replies: 126
Views: 9834

Re: Interest Rate Risk: Two Views

If real rates rise in year one, both the long term and short term funds will suffer NAV loss and because you are spending out of them to fund your retirement, won't be able to recover. I used to agree with this, TI. But after crunching the numbers for several examples, I now see that by matching th...
by #Cruncher
Wed Sep 25, 2019 10:51 am
Forum: Investing - Theory, News & General
Topic: Interest Rate Risk: Two Views
Replies: 126
Views: 9834

Re: Interest Rate Risk: Two Views

Three separate 1% real rate increases can mean over three full years of unfunded retirement that you had assumed in your planning was protected from any rate or duration risk because you were matching fund duration to your liability. … I hope someone can either show how my data is wrong or confirm ...
by #Cruncher
Mon Sep 23, 2019 10:12 am
Forum: Investing - Theory, News & General
Topic: Interest Rate Risk: Two Views
Replies: 126
Views: 9834

Re: Interest Rate Risk: Two Views

So how do I calculate duration change of a fund when yields increase. It's a pain. To get it right, you'd have to calculate the duration change of each underlying bond plus account for the constant maturity (i.e. as "on-the-run" bonds with higher coupons enter the portfolio and "off-the-run" bonds ...
by #Cruncher
Sun Sep 22, 2019 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Help with pension choices
Replies: 36
Views: 2987

Re: Help with pension choices

If your wife is five years younger, on average she'll be alive eight years after you're gone. When comparing the joint and single life annuities, It's not the wife's life expectancy that's relevant; it's the last to die expectancy. According to the SSA 1970 Cohort Life Table a 55 year old man is ex...
by #Cruncher
Sat Sep 21, 2019 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Help with pension choices
Replies: 36
Views: 2987

Re: Help with pension choices

... to take the lump sum. It's really not an option for me, but I put it in my post for reference. I'm really looking at the monthly pensions options, and which one of those is best in my situation to take. I understand. So instead of calculating the pension return against the lump sum, using the s...
by #Cruncher
Sat Sep 21, 2019 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Help with pension choices
Replies: 36
Views: 2987

Re: Help with pension choices

Hi all. I plan to retire next year at 55 . … My options are: Lump sum: $ 232,064 ... or one of the following monthly pension options w/2% COLA : Option Type: Unmodified Allowance Monthly Amount: $3,611 For You if Beneficiary Dies Before You: N/A To Your Beneficiary: No Monthly Benefit ... Option Ty...
by #Cruncher
Tue Sep 17, 2019 9:14 am
Forum: Personal Investments
Topic: Early SS to pay Roth convert taxes?
Replies: 23
Views: 2632

Re: Early SS to pay Roth convert taxes?

The extra six months provides 6 * $3634 = $21,804. $21,804/($3748 - $3634)/12 = 15.9 years I think that one gets about the same result for other PIAs. The PIA (Primary Insurance Amount) is irrelevant in determining the breakeven years from delaying Social Security from age 69.5 to 70. It depends on...
by #Cruncher
Mon Sep 16, 2019 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Creating an amortization mortgage loan schedule in excel
Replies: 10
Views: 1074

Re: Creating an amortization mortgage loan schedule in excel

Hmm - might be talking about different templates here. So it appears. Here is the template I got from Excel's File / New menu. I've replaced the default $100.00 for Optional extra payments in cell E9 with $83.46, the amount that should pay off the loan in exactly 10 months. [1] Note that the templa...
by #Cruncher
Mon Sep 16, 2019 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Creating an amortization mortgage loan schedule in excel
Replies: 10
Views: 1074

Re: Creating an amortization mortgage loan schedule in excel

You had it in Excel all along: 1. Open a new sheet in Excel 2. Right click the "sheet1" tab 3. "Insert" --> "Spreadsheet solutions" --> "Loan Amortization" The Excel template wrongly ignores interest when determining the final payment. If one enters $83.46 as "Optional Extra Payments" in cell E9 of...
by #Cruncher
Fri Sep 13, 2019 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: How many years for each $250k of net worth?
Replies: 36
Views: 6447

Re: How many years for each $250k of net worth?

This [the table in my post above ] does not include the impact of additional contributions correct? Just investment returns? No, it does include the $1,000 monthly contributions. ---------- Grows To ---------- Years Principal Contribs Total ------- --------- -------- --------- 12.4580 0 250,000 250...
by #Cruncher
Thu Sep 12, 2019 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: How many years for each $250k of net worth?
Replies: 36
Views: 6447

Re: How many years for each $250k of net worth?

For example: Saving $1000 a month with an 8% return: First 250k will be reached by year 13 2nd 500k will be reached by year 19 3rd 750k will be reached by year 23 4th 1mil will be reached by year 26 Expanding on this, here are the years needed to add each $250,000; with annual return assumptions of...
by #Cruncher
Thu Sep 05, 2019 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: Pension Plan Annuity Offers and COLA dilemma
Replies: 6
Views: 738

Re: Pension Plan Annuity Offers and COLA dilemma

A lump sum distribution is not currently an option. ... market value of the account ... is at $550,621 on Sept 4. ... For example, if I elect to start the annuity on Oct 1, using 0% and 2% COLA's: Sample 1: Joint 70% at 2% fixed COLA per year, lifetime: $1,918 per month. Joint 70% with no COLA (0%)...
by #Cruncher
Thu Sep 05, 2019 11:20 am
Forum: Personal Investments
Topic: Series I bonds - question about compounding interest
Replies: 18
Views: 1899

Re: Series I bonds - question about compounding interest

My Series I Bond is 6 years old. The interest has been compounding in June and December. If I redeem in October, will I still receive the interest from last compounding to October? (somehow it gets added on prior to the compounding month?) Yes, you would receive the interest through October 2019. T...
by #Cruncher
Fri Aug 30, 2019 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security age 70 or bust?
Replies: 81
Views: 5285

Re: Social Security age 70 or bust?

There are two ways of looking at delaying SS: 1) Getting the most money out of the system 2) Longevity insurance I chose the latter. No math required. (underline added) I agree, Gerry, that one should normally delay the start of SS as longevity insurance. But to conclude this, math is required. Sta...
by #Cruncher
Thu Aug 22, 2019 11:54 pm
Forum: Investing - Theory, News & General
Topic: Thirty Year TIPS Auction Thursday August 22 2019
Replies: 21
Views: 2382

Re: Thirty Year TIPS Auction Thursday August 22 2019

Is there an automatic calculator which gives me six months interest data and current value of TIPS? My TIPS Interest & OID web page and spreadsheet display interest amounts. And I've just added columns on the right side of the spreadsheet (which is intended to be customized with your TIPS holdings)...
by #Cruncher
Wed Aug 21, 2019 6:49 am
Forum: Personal Finance (Not Investing)
Topic: Social Security -- Take it at 62, 67 or 70
Replies: 332
Views: 31478

Re: Social Security -- Take it at 62, 67 or 70

Remember the government figures that on average the amount will be the same for whatever time you decide to take. If by the "amount", you mean the discounted present value (PV) , this may be true, basspond. For example, the PV of SS benefits for someone with a Normal Retirement Age (NRA) of 67 who ...
by #Cruncher
Mon Aug 19, 2019 1:34 pm
Forum: Investing - Theory, News & General
Topic: Thirty Year TIPS Auction Thursday August 22 2019
Replies: 21
Views: 2382

Thirty Year TIPS Auction Thursday August 22 2019

This Thursday the treasury is re-auctioning the 30-year TIPS maturing 2/15/2049 . (See the announcement PDF file .) This is a change from previous years when the 30-year TIPS was re-auctioned in June and October. (See the thread, 2019 TIPS Auction Schedule Changes .) Yields have come down a lot sinc...
by #Cruncher
Mon Aug 12, 2019 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security -- Take it at 62, 67 or 70
Replies: 332
Views: 31478

Re: Social Security -- Take it at 62, 67 or 70

If the change in benefits happens before you turn 62 or after you turn 70, there is indeed no difference. This is only half right, Homer. If the cut occurs before age 62, there is indeed no effect on the relative values of claiming at different ages. But there is an effect if the cut occurs after a...
by #Cruncher
Sat Aug 10, 2019 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security -- Take it at 62, 67 or 70
Replies: 332
Views: 31478

Re: Social Security -- Take it at 62, 67 or 70

At https://opensocialsecurity.com , play with decreasing the payout in 2034 a bit. Even a modest decrease or 6% changed my optimal retirement date significantly. I did the same - and the strategy was amazingly different. For example, it had me take it at age 64 and 10 months, rather that at age 70....
by #Cruncher
Sat Aug 03, 2019 2:43 am
Forum: Personal Investments
Topic: Buying Treasuries at Broker?
Replies: 7
Views: 720

Re: Buying Treasuries at Broker?

I thought the coupon rate was set and we buyers bid on the purchase price. At least that’s what happens on the Fido website. At the first auction of a TIPS the competitive bidders bid on the yield, not the price. The coupon is then set equal to or below the winning yield in 1/8 pct increments. E.g....
by #Cruncher
Thu Aug 01, 2019 6:35 am
Forum: Personal Finance (Not Investing)
Topic: Social Security -- Take it at 62, 67 or 70
Replies: 332
Views: 31478

Re: Social Security -- Take it at 62, 67 or 70

For each social security dollar I collect, that is one dollar I do not have to take out of my investment portfolio. If the average return on the market is anything above 3.35%, that dollar will continue to grow over the following 8 years (from age 62 to age 70). If I make a modest 6% in the market,...
by #Cruncher
Sun Jul 21, 2019 5:59 am
Forum: Personal Investments
Topic: Apply the standard deduction, ordinary vs qualified income.
Replies: 3
Views: 760

Re: Apply the standard deduction, ordinary vs qualified income.

I get the same results as you for the three examples, Ed, as shown in the following table from the Compare sheet of my Marginal Tax Rates spreadsheet. This is for a 2018 joint return with the $24,000 standard deduction. Floor: ord income 10% 0 Floor: ord income 12% 19,050 Floor: ord income 22% 77,40...
by #Cruncher
Sat Jul 20, 2019 11:14 am
Forum: Investing - Theory, News & General
Topic: Consistent Yield & Duration to Help Choose TIPS Fund
Replies: 113
Views: 36303

Re: Consistent Yield & Duration to Help Choose TIPS Fund

I would ingore the unusually high 1.74% weighted average yield of the 0-5 index. It is strongly influenced by very high yields of the soon-to-mature January and April 2019 issues. A similar situation is occurring now. The yield-to-maturity (YTM) of the two TIPS maturing January and April 2020 are 1...
by #Cruncher
Thu Jul 18, 2019 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Please check my calculations -- mortgage vs interest earned.
Replies: 4
Views: 567

Re: Please check my calculations -- mortgage vs interest earned.

Our mortgage ... with a final payoff date of 12/1/2024 . The balance due ... is roughly $83,000 at 3.979% . ... Payment is $1423.85 . ... Schwab's ... Money Fund ... yield was 2.31% … My calculations show that I come out about $1000 ahead in 5 years by not paying off the mortgage in full, but rathe...
by #Cruncher
Mon Jul 15, 2019 12:28 pm
Forum: Forum Issues and Administration
Topic: Using Site From Smartphone Question
Replies: 16
Views: 1587

Re: Using Site From Smartphone Question

There is a little icon that looks like 3 horizontal lines stacked on top of each other to the left of the bell icon and "notifications." Cannot see anything like that on mine. The 3 line horizontal menu appears on https://bogleheads.org/forum. To get there from https://bogleheads.org, choose a link...
by #Cruncher
Sun Jul 14, 2019 11:14 am
Forum: Personal Investments
Topic: Zero Coupon Bonds and TIPS In Taxable Account
Replies: 7
Views: 984

Re: Zero Coupon Bonds and TIPS In Taxable Account

The tax with the zero coupon bond will be the same as the nominal bond. Not quite. The taxes will be slightly higher on a zero coupon bond than on a coupon bond with the same pretax yield-to-maturity (YTM). The following table compares $1,000 invested in a 10-year zero and a 10-year 2% coupon bond ...
by #Cruncher
Thu Jul 11, 2019 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Am I calculating my potential mortgage refinancing savings correctly?
Replies: 16
Views: 1796

Re: Am I calculating my potential mortgage refinancing savings correctly?

So by my calculations, if I stay with the original loan and continue to prepay and finish by 04/2032, the remaining cost is $205,000 . … If I refinance, the total cost is $182,093 which is a $23,093 (~150/month for 154 payments) savings ... Did I do my math correctly? No. As buhlaxtus says in this ...
by #Cruncher
Wed Jul 10, 2019 3:44 pm
Forum: Investing - Theory, News & General
Topic: TIPS Ladder Spreadsheets in General & Two in Particular
Replies: 98
Views: 22922

Re: TIPS Ladder Spreadsheets in General & Two in Particular

There's not necessarily any discrepancy between what your Schwab bond guy was thinking, and what we are saying. … However you look at it, you would earn more with a higher initial index ratio if deflation is bad enough over your holding period. I think that's basically what your bond guy was thinki...
by #Cruncher
Tue Jul 09, 2019 3:05 pm
Forum: Investing - Theory, News & General
Topic: XIRR Troubleshooting
Replies: 16
Views: 763

Re: XIRR Troubleshooting

Am I doing something incorrectly with the formulas? No, you're calculations are correct, jbover. The following table confirms this. It shows how growing investments at the rate returned by XIRR [1] produces 0.00 on the ending date -- just as it should. Col A Col B Col C Col D Col E Col F Row Cash F...
by #Cruncher
Mon Jul 08, 2019 10:50 am
Forum: Investing - Theory, News & General
Topic: Calculation of SS difference between working to 62 but delay withdrawls until 70 vs working until 70
Replies: 12
Views: 1323

Re: Calculation of SS difference between working to 62 but delay withdrawls until 70 vs working until 70

At 62, payment will be $1,949 … these estimates are assuming that you work up until that age (67,70,62). What happens if I work until 62, but then delay withdrawals until 70? Scale up the $1,949 by the age 62 and age 70 percents of PIA for your birth year as shown on SSA's Effect of Early or Delaye...
by #Cruncher
Sun Jul 07, 2019 11:06 pm
Forum: Investing - Theory, News & General
Topic: TIPS Ladder Spreadsheets in General & Two in Particular
Replies: 98
Views: 22922

Re: TIPS Ladder Spreadsheets in General & Two in Particular

I guess my basic question is: what is the risk to my principal of buying bonds that are far above par, particularly when they mature 20-30 years in the future? First off, a TIPS can cost "above par" either because the index ratio (aka inflation factor) is more than 1.0; or because the unadjusted pr...
by #Cruncher
Sat Jul 06, 2019 7:37 pm
Forum: Personal Investments
Topic: Help Me Understand My I-Bond Rate
Replies: 4
Views: 774

Re: Help Me Understand My I-Bond Rate

... I see that my I-bond issued on 2012-09-01 has 2.32% interest rate. I can't seem to figure out how that is the case. The rest of my I-Bond interest rate match with what I calculated using the formula based on the historical fixed rate and current inflation rate. As shown here , the 2.32% composi...
by #Cruncher
Wed Jul 03, 2019 11:15 pm
Forum: Personal Finance (Not Investing)
Topic: Help me estimate how much my pension is worth?
Replies: 15
Views: 3244

Re: Help me estimate how much my pension is worth?

So staying at my company represents a series of monthly pension payments of $(B-A) a month. Let's say this is $1500/month. If I assume the payments are 35 years and the discount rate is 2% I get a present value of: (B-A)/r * (1- 1/(1+r)^n) = $452,813. But this amount represents the present value IN...
by #Cruncher
Mon Jul 01, 2019 7:01 pm
Forum: Personal Investments
Topic: How much to rollover from IRA to Roth IRA
Replies: 35
Views: 3649

Re: How much to rollover from IRA to Roth IRA

We receive about 40,000 dollars a year of dividends from the taxable investments ... The 40,000 dollars will be our only income after this year. How Roth conversions would be marginally taxed depends on how much of the dividends are qualified and therefore subject to favorable tax treatment. For ex...
by #Cruncher
Sat Jun 29, 2019 7:39 am
Forum: Investing - Theory, News & General
Topic: Consistent Yield & Duration to Help Choose TIPS Fund
Replies: 113
Views: 36303

Re: Consistent Yield & Duration to Help Choose TIPS Fund

I've updated the Yield to Maturity and Duration Calculator with WSJ TIPS Prices 6/28/2019 [*] and the weighting effect of the 10-year auction in May and the two 5-year auctions in April and June. As shown in the table below, the weighted average yield of the bonds in the 1+ years broad index (0.37%)...
by #Cruncher
Wed Jun 26, 2019 5:15 pm
Forum: Investing - Theory, News & General
Topic: TIPS bond funds have provided less inflation protection than nominal treasuries recently
Replies: 23
Views: 1798

Re: TIPS bond funds have provided less inflation protection than nominal treasuries recently

… In January, 2013 the stated real yield to maturity on a 5-year Treasury Inflation-Indexed Security was negative 1.39%. That TIPS was explicitly guaranteed not keep up with CPI if held to maturity: that's what a security with a negative yield is supposed to do. Thing is, I'm not talking about the ...