Hello all. There's an option in my 401k described thusly: "...an index
fund that seeks to match the performance of the Lehman Brothers US
Treasury Inflation Protection Securities ("TIPS") Index by investing in
some or all of the bonds that make up the index."

The share NAV has decreased significantly during the last few (crash) days
(unlike other treasuries), and TIPS mutual funds as a class went down in
Q3 while other treasury based funds went up. Could someone explain why
this particular govt security has gone down in value while ordinary
Treasury bonds go the other way.

My best guess so far is that a lot of cash is coming out of equities to
chase these things. But wouldn't that be true of all treasuries? I
understand what TIPS are (I think), and that lower interest rates
correlate with higher bond (and, frequently, rising equity) prices, but I
guess I don't understand well enough to see why TIPS would move contrary
to other treasuries.

Many thanks.