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U.S. 10-Year TIPS Auction May Yield Record Minus 0.655%

The government’s $15 billion sale of 10-year inflation-indexed securities may draw a record low yield of negative 0.655 percent, according to the average forecast in a Bloomberg News survey of eight of the Federal Reserve’s 21 primary dealers.

The Treasury Inflation Protected Securities, which mature in July 2022, yielded negative 0.65 percent in trading before the auction. Bids are due by 1 p.m. New York time.