US treasury sells $18 billion of year TIPs at a high yield of 1.810%

<p>The U.S. Treasury's sold $18B of 10-year TIPS at a high yield of 1.810%:</p><ul><li>High yield 1.810%</li><li>WI level at the time of auction 1.825%</li><li>Tail -1.5 basis points vs six-month average of -1.6 basis points</li><li>Bid to cover 2.62X vs six-month average of 2.49X</li><li>Dealers 3.2% versus a six-month average of 8.0%</li><li>Directs (a measure of domestic demand) 17.5% vs six-month average of 16.0%</li><li>Indirects (a measure of international demand) 79.3% versus six-month average of 76.0%</li></ul><p>Overall a strong auction</p>

This article was written by Greg Michalowski at www.forexlive.com.