Treasury Indexed 10-Year TIPs Go At 0.560% High Yield

The Treasury Department sold $13 billion of inflation-indexed 9-year 8-month TIPs at a 0.560% high yield, an adjusted price of 98.268271, with a 3/8% coupon.

The bid-to-cover ratio was 2.59.

Tenders at the market-clearing yield were allotted 96.89%.

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

Among competitive tenders, the median yield was 0.540% and the low yield 0.465%, Treasury said.

Tenders totaled $33,709,056,900 of which the Treasury accepted $13,000,283,900. Noncompetitive tenders totaled $18,181,900. Fed banks bought nothing for their own accounts.

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