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BMO analyst Ian Lyngen said today's....>

US TSYS/TIPS
US TSYS/TIPS: BMO analyst Ian Lyngen said today's 30-year TIPS reopening auction
"was fair with an on-the-screws stop and non-dealer bidding of 76.9% vs. 78%
average" as it "stops at 0.908% vs. 0.908% 1 PM WI."
- He adds that "dealers were awarded 23.1% vs. 22.0% average for 30-year TIPS
auctions. Indirects get 76.4% vs. 72.1% norm. Directs take 0.5% vs. 5.9%
average. Bid/Cover was 2.64x vs. 2.46x average."
- Lyngen adds the indirect hit ratio showed "customers take 71% of what they bid
for vs. 84% norm."

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