Bid to cover 2.69 vs 2.43

The US treasury sold $13B of TIPs at 0.548%.

  • The bid to cover came in at 2.69 versus 2.43
  • US awarded 11% of 10 year TIPS to primary dealers
  • US awarded 78.9% to indirect bidders
  • The treasury allotted 91.1% at the high-yield

Strong demand for the inflation linked bonds.