Subtract the TIPS yield from the Treasury yield and you have the inflation rate the bond market is betting on. It is the cheapest forecast in finance.
The 10-year Treasury yields 4.30%. The 10-year TIPS yields 1.90%. Subtract, and you get 2.40% — approximately the average inflation rate the bond market expects over the next decade. That single subtraction is one of the only real-time, market-priced forecasts available to anyone, and it costs nothing to look up.
— Educational, not financial advice.