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U.S. sells 10-year TIPS to dismal demand
July 20, 2017 / 5:54 PM / 2 months ago

U.S. sells 10-year TIPS to dismal demand

NEW YORK, July 20 (Reuters) - The U.S. Treasury Department on Thursday sold $13 billion worth of 10-year Treasury Inflation Protected Securities to poor demand, resulting in a yield of 0.489 percent, which was the highest yield at an auction since January 2016, Treasury data showed.

The ratio of bids to the amount of 10-year TIPS offered was 1.98, the weakest reading since July 2008. At the prior 10-year TIPS sale in May, this gauge of overall demand was 2.56, which was the strongest since September 2016. (Reporting by Richard Leong; Editing by Jonathan Oatis)

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