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Indirect bidders buy record share at U.S. TIPS auction
May 18, 2017 / 5:23 PM / 2 months ago

Indirect bidders buy record share at U.S. TIPS auction

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NEW YORK, May 18 (Reuters) - Indirect bidders including fund managers and foreign central banks on Thursday purchased 80.3 percent of a $11 billion sale of 10-year Treasury Inflation Protected Securities (TIPS), the largest share ever at such an auction, Treasury data showed.

But primary dealers, or the top 23 Wall firms that do business directly with the Federal Reserve ended with 11.3 percent share, which was a record low for them at a 10-year TIPS auction. (Reporting by Richard Leong, editing by G Crosse)

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