Treasury Indexed 10-Year TIPs Go At 0.384% High Yield

The Treasury Department sold $15 billion of inflation-indexed 10-year TIPs at a 0.384% high yield, an adjusted price of 100.004056, with a 3/8% coupon.

The bid-to-cover ratio was 2.44.

Tenders at the market-clearing yield were allotted 84.23%.

The notes are dated July 15 and are due July 15, 2023.

Among competitive tenders, the median yield was 0.310% and the low yield 0.270%, Treasury said.

Tenders totaled $36,557,669,700 of which the Treasury accepted $15,000,001,500. Noncompetitive tenders totaled $28,269,700. Fed banks bought nothing for their own accounts.

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