US 10-year TIPS sold to strong investor demand

NEW YORK: The US Treasury Department on Thursday sold $11 billion of 10-year Treasury Inflation Protected Securities to solid investor demand at a yield of 0.466 percent, which was the highest yield at a 10-year TIPS auction since January 2016.

The Treasury awarded large fund managers, small bond dealers and other direct bidders 15.58 percent of the 10-year TIPS supply, which was their largest share at a 10-year TIPS auction since November 2013, according to Treasury data.