Treasury Inflation-Protected Securities are posting the biggest losses since Lehman Brothers Holdings Inc. collapsed in 2008 as investors say they’re too expensive when consumer prices are barely rising. Blackrock Inc., Pacific Investment Management Co. and FAF Advisors Inc., which oversee about $4.5 trillion, are selling TIPS, contributing to a 1.1 percent loss this month after they gained 1.5 percent in January and 10 percent in 2009. The bonds are on pace for their worst month since falling 8.47 percent in October 2008, the month after Lehman went bankrupt. Investors who were piling into TIPS as recently as four months ago on concern that a recovering economy and $8.2 trillion of U.S. stimulus spending would ignite inflation are reversing course. They see little need to protect against price increases as the dollar rallies, banks restrict credit and expanding government deficits around the world threaten to slow global growth.