Treasury Inflation-Protected Securities (TIPS) are fixed income securities issued by the U.S. government that offer protection against inflation. When you buy TIPS, you get regular interest payments on the par value of the securities. Upon maturity, your principal is refunded. Every year, the U.S. Treasury adjusts the par value of TIPS based on the level of inflation. This feature helps preserve the purchasing power of your investment. This is unlike ordinary bonds, whose value may be eroded over time by gains in inflation.
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