- שילה, הבנתי מדבריך שתשואות האג"ח ירדו לרמות נמוכות, ולא רווחיות, אז האם כדאי להשקיע באג"ח TIPS כהשקעה לטווח הארוך? והאם התפרצות אינפלציונית בעתיד הרחוק היא בלתי נמנעת? וזה בגלל המוגבלות של מהירות ספיגת הכספים שהוזרמו לשווקים? להלן קישור, וקטעים נבחרים מכתבה על הנפקת TIPS
http://online.wsj.com/article/BT-CO-201 ... =rss_Bonds
By Min Zeng
A DOW JONES NEWSWIRES COLUMN
NEW YORK (Dow Jones)--The U.S. government on Wednesday said it will expand sales of Treasury securities that help investors hedge against inflation risks, a move aimed at improving management of its ballooning debt sales while boosting buying interest at home and abroad
By increasing the supply of these instruments called Treasury Inflation-Protected Securities, or TIPS, the U.S. government aims to address a number of concerns surrounding its unprecedented debt issuance program to help manage mounting deficits and finance stimulus programs to revive the economy
After a record pace of sales over the past two years, the Treasury signaled Wednesday the auction sizes for nominal Treasury notes and bonds--the mainstay of the Treasury market--have peaked. Instead, it moved to boost supply of TIPS, which account for less than 10% of total Treasury securities outstanding
"We are stabilizing our nominal coupon auctions," after two years of increasing auction sizes, a Treasury official said. "We now think that we are basically at a peak, and we are adequately financed now to address a broad range of financing scenarios going forward
The expansion of the TIPS market should help maintain the confidence from large investors, including big creditors such as China, providing an asset class to hedge against the risks that aggressive monetary and fiscal stimulus in the U.S. could fuel inflation longer term
The first 30-year TIPS sale since 2001 is scheduled for Feb. 22. Many market participants said the longer-dated maturities will entice pension funds that need the securities to manage long-term liabilities
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