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Preview 30Y TIPS Re-Open Auction

US TSYS/SUPPLY

Final leg week's Tsy auctions at the top of the hour: $8B 30Y TIPS re-open, WI running around -0.289%. The last 30Y TIPS auction was on February 18 had stopped through with -0.040% high yield (-0.272% in August 2020); bid-to-cover 2.31x vs. 2.42x 5M average. Feb auction participation details:

  • Indirect take-up fell to new one-plus year low of 68.15% (75.18% 5M avg)
  • Primary dealer take-up: 17.21% vs.15.94% 5M avg. Direct take-up bounced to new one-plus year high of 14.64% vs. 8.78% 5M avg.

Auction results available shortly after competitive auction close 1300ET. The next 30Y-TIPS auction is estimated for mid-February 2022.

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