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2026-09-18 01:28:09
[US 10-Year Treasury Inflation-Protected Securities Yield Hits Highest Level Since 2008 Crisis, Demand Falls Short of Expectations] The US Treasury issued $19 billion in 10-year Treasury Inflation-Protected Securities (TIPS), with a winning yield of 2.653%, the highest since 2008. This was about 2 basis points higher than the estimated pre-issuance traded yield (WI) at the 1 p.m. New York time bid deadline, indicating that demand for the new bonds fell short of expectations. Primary dealers were allocated 12.2%, higher than the previous three auctions; indirect bidders were allocated 59.1%, while direct bidders were allocated 28.7%. The bid-to-cover ratio was 2.24, lower than the average of 2.43 in the previous three auctions.
