US Treasury sells 10-year TIPS at lower yield

NEW YORK: The US Treasury Department on Thursday sold $13 billion of 10-year Treasury Inflation Protected Securities (TIPS) at a yield of 0.919 percent, which was below the 1.109 percent yield at the prior 10-year TIPS auction conducted in November.

The ratio of bids to the amount of 10-year TIPS offered  was 2.42, the lowest reading since July. This gauge of overall auction demand was 2.59 at the prior auction.