The US government’s Treasury Inflation-Protected Securities (TIPS) — after years of being less than popular — are having a moment in the sun.

That’s because TIPS are becoming the hot new investment vehicle in the market as consumers look for a bond-type hedge against eventual inflation, as reported recently by Market News International.

The $18 billion 5-year TIPS auction on April 23 saw $48 million in smaller bids.

“TIPS are back in vogue,” said TIPS trader Andrew Schulman. “Before, it’s like they had been hung up in the back of the closet” and forgotten, he said. “Now, it’s like we’re taking out our springwear.”

“People are starting to trickle in, all of a sudden, TIPS traders have something to do,” he said. “Before, we were like trees falling in the forest,” Schulman said.