Treasury's $15 B 10-year TIPS sale saw mixed results Treasury's $15 B 10-year TIPS sale saw mixed results. The issue stopped through at 0.249%, after having edged up to 0.265% into the bid deadline. The award rate compares to 0.661% for the prior new issue in January, and 0.339% for the $13 B May reopening. There were $37.4 B in bids for a 2.49 cover, versus 2.31 in January and 2.91 in May. Indirect bidders took 53.1% against January's 51.8% and May's 66.3%. Direct bidders were awarded 10.3%, up from 6.3% in May, with primary dealers accepting 36.6% compared to 27.5%. Source suggested some of the slide in the nominal bond market was a function of worries over the TIPS auction, so the mixed results might allow for some bounce in Treasuries.