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US Treasury sells $9 billion 30-year TIPS at 2.973%
The auction stopped 1.8 basis points through the when-issued yield, with international investors taking 84.4% of the supply.
The U.S. Treasury held a $9 billion auction of 30-year Treasury Inflation-Protected Securities (TIPS), which stopped at a high yield of 2.973% versus a 2.991% when-issued level at the time of sale, according to Forexlive.
The stop-through of 1.8 basis points pointed to stronger-than-expected demand for the inflation-linked debt, while the bid-to-cover ratio came in at 2.82x, indicating nearly three times as many bids as the amount offered.
Foreign participation dominated the results, with indirect bidders taking 84.4% of the issue. Direct bidders accounted for 13.4%, and primary dealers received 2.1%.