10-Year Treasury Inflation-Protected Securities (TIPS)
Returns the yield on 10-year TIPS, which are Treasury securities indexed to inflation. This is the most widely watched real yield benchmark.
Data Source
Federal Reserve Statistical Release H.15 - Selected Interest Rates.
Usage Notes
- No parameters required
- Returns yield as a percentage
- Data updated daily
- Key benchmark for long-term real rates
Understanding 10-Year TIPS
The 10-year TIPS yield is considered the benchmark real interest rate and is closely watched by:
- Federal Reserve policymakers
- Fixed income investors
- Economic forecasters
Breakeven Inflation
10-year breakeven inflation = 10-year Treasury yield - 10-year TIPS yield
Syntax
=TreasuryInflationProtectedSecurities10y()Examples
10-year TIPS yield (%)
When to Use
- Analyzing long-term real interest rates
- Calculating 10-year breakeven inflation
- Fixed income portfolio analysis
- Monetary policy analysis
When NOT to Use
| Scenario | Use Instead |
|---|---|
| Need 5-year TIPS | TreasuryInflationProtectedSecurities5y() |
| Need corporate bond yields | CorporateBondIndexAA() |
| Need short-term rates | FederalFundsRate() |
Common Issues & FAQ
What is a normal 10-year TIPS yield?
Historically, 10-year TIPS yields have ranged from -1% to +3%, with positive yields being more typical.
Why do institutions watch 10-year TIPS closely?
The 10-year TIPS yield is the benchmark for long-term real borrowing costs and is used to gauge monetary policy tightness.
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