There’s no mystery for the labeling of inflation-adjusted yields as real yields. Real, as any dictionary will advise, is a synonym with genuine. Thus, the real, or genuine yield one could expect to receive is deflated by the inflation rate. For those intent on acquiring nothing less there are choices in the world of government paper. In one corner are the standard Treasury issues that dispatch nominal yields and so offer no protection from a future of rising inflation. In the other, Treasury inflation-protected securities, or TIPS as they’re known, which deliver a real yield that buyers secure for the life of the bond.