US sells USD 21bln of 10yr TIPS; tails 2bps
The recent 10-year TIPS auction saw a high yield of 1.940%, which is notably above the previous auction level, indicating a rising cost for inflation protection.
Netflix (NFLX) co-CEO Sarandos is planning to testify in February at a US Senate committee hearing looking into Netflix’s proposed USD 82.7bln purchase of Warner Bros. Discovery (WBD), Bloomberg reports
Big northern European investors are reportedly increasingly wary of the risks of holding US assets in the face of geopolitical tensions, according to reports
US sells USD 21bln of 10yr TIPS; tails 2bps
Tesla (TSLA) CEO Musk says just started Tesla Robotaxi drives in Austin
US Treasury Secretary Bessent says China buying more soybeans isn't required; China's President Xi and US President Trump could meet four times this year
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- High Yield: 1.940% (prev. 1.734%); WI: 1.960%.
- Tail: 2bps (prev. 5bps)
- B/C: 2.38x (prev. 2.20x)
- Dealer: 12.2% (prev. 17.8%)
- Direct: 20.4% (prev. 26.1%
- Indirect: 67.42% (prev. 56.1%)
The 2bps tail, down from 5bps, suggests improved demand relative to prior auctions, as evidenced by the bid-to-cover ratio of 2.38x, indicating robust appetite for the securities. Overall, this reflects a strengthening appetite for inflation-linked debt amid current inflationary concerns, likely influencing rate expectations and overall market sentiment.
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