Real Interest Rates Have Gone Negative

During the month of February, the yields on the Treasury Inflation Protected Securities with maturities up to just over three years have gone from positive to negative:

Jan 15, 2009 maturity:

1/31/08 yield 0.142%, 2/29/08 yield -0.963%

Jan 15, 2011 maturity:

1/31/08 yield 0.339%, 2/29/08 yield -0.429%

April 15, 2012 maturity:

1/31/08 yield 0.574%, 2/29/08 yield -0.036%

Source: wsj.com