This is in contrast to individual TIPS where price changes are not taking place in real time. Price changes will only be reflected when the bond is sold before maturity, Sotiroff explained. Even as rate cuts occupy center stage in the 24-hour financial news cycle, surprise inflation could strike anytime. In the current macro environment, inflation could stem from the constant wildcard of tariff policy. This means fixed income investors should stay on the defensive, and treasury-inflation protected securitie ...