This Day In Market History, Jan. 29: US Treasury Introduces TIPS
Share: Each day, Benzinga takes a look back at a notable market-related moment that happened on this date. What Happened? On this day in 1997, the U.S. Treasury introduced the first Treasury Inflation-Protected Securities (TIPS). Where Was The Market? The S&P 500 was trading at 772.50 and the Dow Jones Industrial Average was at 6740.74. What Else Was Going On In The World? In 1997, Apple Inc. (NASDAQ: AAPL) co-founder Steve Jobs returned to the company, and the Mars Pathfinder successfully landed on the surface of Mars. A pound of hamburger meat cost $1.38. Bond Investors Get Inflation He...