There will be an auction for a 30-year TIPS on Monday, Feb. 22, 2010. The official announcement will be published on Thursday, Feb. 18, 2010.

The Treasury Department announced last November it would stop issuing 20-year TIPS and start issuing 30-year TIPS. This will be the first 30-year TIPS auction under that directive, and it will be first auction for a 30-year TIPS since 2002.

However, the February quarterly refunding meeting did not add more 30-year TIPS to the auction schedule. In the past there would be a 10-year and a 20-year TIPS auction in July. Now there is only one 10-year auction in July. Maybe the 30-year TIPS will be re-opened in August? The latest auction schedule only goes out to the end of July.

The policy statement from the February meeting mentioned there may be new 10-year reopenings in September and November. More details will be announced in the next meeting in May.

I will take a pass on this 30-year TIPS auction. I'd like to see how the auction comes out.