Strong Demand for Treasury Inflation Protected Securities or TIPS

According to a “Public Debt News release“, issued by the U.S. Department of the Treasury, more than $7 billion dollars of Treasure Inflation Protected Securities or TIPS we sold at auction today.

The Bid-to-Cover Ratio for the auction was $19,474,572,300/$7,000,002,300 or 2.78, indicating that there was strong demand for the TIPS. The 2.78 ratio is being reported by the WSJ as a record high for TIPS.