News

The U.S. Treasury issued $20 billion of 10-year inflation-protected Treasuries (TIPS), with the winning bid yield quoted at 2.243%, the highest since January 2009 and 1 basis point above pre-issue trading levels at the time of the bid closure, suggesting that demand was slightly lower than expected. Primary dealers were allocated 10.2%, lower than the previous time, while direct bidders were allocated 23.3% and indirect bidders were allocated 66.5%. Bid multiples were reported at 2.48x, compared with the previous three-time average of 2.39x.

The U.S. dollar index, a measure of the greenback against six major currencies, fell 0.11% on the day, closing at 108.046 at the end of the currency market. Yen 156.52 yen for 1 U.S. dollar, down from 156.52 yen in the previous session; 0.9068 Swiss francs for 1 U.S. dollar, higher than the previous session's 0.9061 Swiss francs; 1 U.S. dollar for 1.4362 Canadian dollars, lower than the previous session's 1.4371 Canadian dollars; 1 U.S. dollar for 11.0035 Swedish kronor, higher than the previous session's 10.9945 Swedish kronor.