The U.S. Treasury's reopening auction of a 10-year Treasury Inflation-Protected Security - CUSIP 9128285W6 - went off as expected Thursday, generating a real yield to maturity of 0.567%.
In the hours before the auction close at 1 p.m. EDT, this TIPS was trading on the secondary market with a yield of 0.56%, so the auction followed the market. That's an indication of solid demand for the $11 billion issue.
CUSIP 9128285W6 had its originating auction on January 17, when the results were much more attractive for investors: A real yield to maturity of 0.919%