US treasury sells $17 billion of 10 year TIPS at 1.22% | Forexlive

The 10-year TIPS
auction was strong with a stop through of 4.0 bp and non-dealer bidding of
92.4% vs. an 87.2% average.

• High yield of 1.220%
  versus a six auction average of 0.411%.
• Bid/Cover was 2.79x
  compared to an average of 2.32x.
• Dealers took 7.6%
  against a 12.8% norm.
• Directs got 13.1% vs.
  an average of 17.2%.
• Indirects claimed
  79.3% vs. a 70.0% average.
• Rates held a generally
  upward trend as breakevens widened into the auction and since the result, the
  selloff in Treasuries has stalled.