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BMO's Ian Lyngen said "this............>

US TSYS/TIPS
US TSYS/TIPS: BMO's Ian Lyngen said "this afternoon's 5-year TIPS auction was
very strong with a stop-through of 3.1 bp and non-dealer bidding of 83.9% vs.
75.6% average." He added that the "5-year TIPS auction stops at 0.370% vs.
0.401% 1 PM Dealers were awarded 16.1% vs. 24.4% average 5-year TIPS auctions."
- He also noted the "indirects get 71.7% vs. 67.4% norm" while "directs take
12.2% vs. 8.2% average. Bid/Cover was 2.78x vs. 2.46x average." 

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