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Treasury 5-Year TIPs Go At Negative 1.496% High Yield

The Treasury Department Thursday auctioned $14 billion of four-year four-month inflation-indexed notes with a 0.125% coupon, a negative 1.496% high yield, an adjusted price of 109.1835073.

The bid-to-cover ratio was 2.70.

Tenders at the high yield were allotted 76.64%. All competitive tenders at lower yields were accepted in full.

The median yield was negative 1.550%. The low yield was negative 1.590%.

Tenders totaled $37,811,306,200 and the Treasury accepted $14,000,034,200 including $19,936,200 non-competitive.

The Fed banks also bought nothing for their own account in exchange for maturing securities.

The notes, which have an issue date of Dec. 31, are dated Oct. 15, and will mature April 15, 2017.

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