Summary
- The after-inflation yield of -.209% is the lowest since an auction in April 2015.
- Buyers had to pay a premium, about $103.27 for $101.69 of value, when accrued inflation is added in.
- The inflation breakeven rate was 1.32%, making this TIPS attractive versus a nominal Treasury.
This auction didn’t carry much interest for me, because I Bonds and short-term bank CDs look more attractive. But demand appeared to be strong, and the TIP ETF is rallying today, indicating a positive reaction to the auction.
Treasury Inflation-Protected Securities 
I would not touch that one with a ten foot pole.