US treasury sells $18 billion of year TIPs at a high yield of 1.810%

The U.S. Treasury's sold $18B of 10-year TIPS at a high yield of 1.810%:

• High yield 1.810%
• WI level at the time of auction 1.825%
• Tail -1.5 basis points vs six-month average of -1.6 basis points
• Bid to cover 2.62X vs six-month average of 2.49X
• Dealers 3.2% versus a six-month average of 8.0%
• Directs (a measure of domestic demand) 17.5% vs six-month average of 16.0%
• Indirects (a measure of international demand) 79.3% versus six-month average of 76.0%

Overall a strong auction