December 21, 2017 / 6:36 PM / a year ago

U.S. TIPS breakeven rates add gains after strong auction

NEW YORK, Dec 21 (Reuters) - The U.S. bond market’s gauges of inflation expectations rose further on Thursday due to strong demand at a $14 billion auction of five-year Treasury Inflation Protected Securities as traders bet on higher inflation stemming from a major tax bill approved by Congress this week.

At 1:25 p.m. (1825 GMT), the 10-year inflation breakeven rate, or the yield difference between 10-year TIPS and regular 10-year Treasury notes, was 1.94 percent, up more than 1 basis point from late on Wednesday. Earlier this week, it touched 1.95 percent, which was the highest level since early May, according to Tradeweb. (Reporting by Richard Leong; Editing by Meredith Mazzilli)

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