On January 24, the US Treasury Department issued US $20 billion 10-year inflation protected treasury bond bonds (TIPS). The bid winning yield was 2.243%, the highest since January 2009, and 1 basis point higher than the pre issuance transaction level at the bid deadline, indicating that the demand was slightly lower than expected. Primary traders were allocated 10.2%, lower than the previous allocation. The allocation ratio for direct bidders increased to 23.3%, while the allocation ratio for indirect bidders decreased to 66.5%. The bid multiple is reported as 2.48 times, with an average of 2.39 times in the first three rounds.
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