US treasury excels $26 billion of five-year tips at a high yield of 2.367%

The Treasury sold $26 billion of 5-year Treasury Inflation-Protected Securities, or TIPS, with the following results: High yield: 2.367%. WI level at the time of the auction: 2.360%. Tail: 0.7 basis point vs the average of 0.2 basis point. Bid to cover: 2.41X vs the average of…