Treasury Indexed 10-Year TIPs Go at 0.358% High Yield

The Treasury Department sold $13 billion of inflation-indexed 9-year 8-month TIPs at a 0.358% high yield, an adjusted price of 98.615297, with a 1/4% coupon.

The bid-to-cover ratio was 2.33.

Tenders at the market-clearing yield were allotted 66.30%.

The notes are dated May 29 and are due Jan. 15, 2025.

Among competitive tenders, the median yield was 0.267% and the low yield 0.240%, Treasury said.

Tenders totaled $30,232,054,200 of which the Treasury accepted $13,000,004,200. Noncompetitive tenders totaled $32,804,200. Fed banks bought nothing for their own accounts.

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