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$8 Billion In 30 Year TIPS Closes At 2.229%, Big Tail To WI Bid At 2.195%

Tyler Durden's picture




 
  • Yield 2.229% vs. Exp. 2.195%, bond was trading at 2.164% just before 1 PM auction
  • Bid To Cover 2.45 vs. Avg. 1.89 (Prev. 2.27)
  • Indirects 42.40% vs. Avg. 45.28% (Prev. 47.45%)
  • Indirect Hit Ratio of 88.05%
  • Allotted at high 66.57% - large number on the margin
  • Direct bidder take down 6.4%

 

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Mon, 02/22/2010 - 14:23 | 240443 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

They hadn't done TIPS since '01...significance?  Probably will become a more often used way of selling bonds I reckon.

Mon, 02/22/2010 - 14:26 | 240447 Quantitative Wh...
Quantitative Wheezing's picture

Rates are rising on TIPS because inflation expectations are lowering........??

Mon, 02/22/2010 - 14:49 | 240473 Spitzer
Spitzer's picture

Yes, I am sure that is what the dumb money is thinking. How dumb can the dumb money get ?

Mon, 02/22/2010 - 14:31 | 240454 Anonymous
Anonymous's picture

Think China will dump 'bout $10 bil some time this week just for shits and giggles?

Mon, 02/22/2010 - 14:43 | 240464 Anonymous
Anonymous's picture

Can anyone explain what all of these numbers mean? btc, hit ratio, alotted, etc.? I understand bonds in general, but I'm not familiar with bond auctions specifically, so a short glossary about the meaning of these terms would be awesome. Thanks!

Tue, 02/23/2010 - 08:27 | 241322 Anonymous
Anonymous's picture

Yes, a "How to read bond auction results" page would be great. Thanks

Mon, 02/22/2010 - 14:47 | 240469 hambone
hambone's picture

Is the market on a lunch break?  Anyone interested in buying?

Mon, 02/22/2010 - 14:49 | 240474 Anonymous
Anonymous's picture

Doesn't Treasury just make this shit up to make it look like whatever they want it too?

Mon, 02/22/2010 - 14:54 | 240483 Anonymous
Anonymous's picture

Bonjour

je ne suis pas spécialiste des adjudications US : est-il possible de faire quelques commentaires ?

Merci pour votre site

Mon, 02/22/2010 - 15:58 | 240571 Anonymous
Anonymous's picture

Nous sommes sans argent aux Etats-Unis.
Envoyer l'aide bientot
Merci
Bonsoir

Mon, 02/22/2010 - 16:07 | 240586 monmick
monmick's picture

... et du vin. De l'argent et du vin, s-v-p. Et bien sûr, envoyez aussi des nanas...

Mon, 02/22/2010 - 16:56 | 240646 Anonymous
Anonymous's picture

Dans ce cas, envoyer des cigares aussi
Quelquefois, je fume 3 ou 4 cigares lisant ZH,
il obtient cher je peux devoir l'or de vente de debut pour payer des cigares
(Esperons que les isiots qui vous ne disent pas peuvent manger de l'or
ne peut pas lire Francais)

Mon, 02/22/2010 - 15:04 | 240501 Hephasteus
Hephasteus's picture

Someones trying to keep gold under it's 1128 support. With daily turning to twice daily auctions how long can they keep hammering it down.

Mon, 02/22/2010 - 23:09 | 240513 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

it will remain in the 1111-1128 this week i presume.  asia was prepared to get it higher, but JPMorgan's Market Manipulators and Monie Masters were told otherwise.

Mon, 02/22/2010 - 16:56 | 240644 IveBeenHad
IveBeenHad's picture

was this a successful auction ? i love the indirect takedown percentage but again i do not know how much we can take from this given the rarity of the auction.  but looks promising to me. tomorrows auctions will be interesting.  

 

http://www.bloomberg.com/apps/news?pid=20601087&sid=aUaFf71VVrR4&pos=7

Mon, 02/22/2010 - 18:38 | 240771 mynhair
mynhair's picture

It was a meaningless auction.  Wait for Thursday's 7-year.

Mon, 02/22/2010 - 20:56 | 240928 the grateful un...
the grateful unemployed's picture

That's a 2 1/2% discount? Nice, who in the hell buys these things anyway? The last few 5 years went at a premium I believe, which is what you have to watch. By the way I am pretty certain you have to pay capital gains when you buy at discount, and probably now way to defer that either. I like TIPS, and PIMCO has a new short duration TIP fund, the longer the term the more you are playing the inflation 'expectation' game, and the possibility exists you might underperform over the life of the bond. THe short term TIP fund is STPZ. Take a look

Sat, 04/17/2010 - 10:37 | 305567 Tom123456
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