Real Rates on (Inflation-Protected) TIPS

According to Bloomberg, real yields to maturity are negative, mostly, for inflation-protected U.S. Government bonds (also known as TIPS) maturing over the next 6 years. To look at their inflation assumptions and corresponding real yield calculations, you just need to go to their DES screen for a given bond. The few exceptions may even offer arbitrage opportunities: The TIPS with CUSIP 912828HW, maturing on April 15, 2013, has a positive real YTM; but the two TIPS with closest maturities, 912828AF and 912828BD maturing on 7/15/2012 and 7/15/2013 respectively, have inflation-included YTMs of -1.093% and -0.814%, respectively...


(Source: Bloomberg, dataforthoughts. Click on chart to enlarge.)