NEW YORK: The US bond market's gauges of investors' inflation outlook declined further on Thursday following lackluster demand at an auction of $14 billion worth of 10-year Treasury Inflation Protected Securities.
At 1:18 p.m. (1718 GMT), the yield spread between 10-year Treasury Inflation Protected Securities, or TIPS, and 10-year Treasury notes was 1.750pc, down 1.50 basis points from Wednesday.
On Tuesday, the 10-year TIPS breakeven rate touched 1.797pc which was its highest since May 22, according to Tradeweb and Refinitiv data.
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