The Treasury Department sold $13 billion of inflation-indexed nine-year 8-month TIPs at a 0.497% high yield, an adjusted price of 96.736675, with a 1/8% coupon.
The bid-to-cover ratio was 2.57.
Tenders at the market-clearing yield were allotted 9.86%.
The notes are dated July 15 and are due July 15, 2024.
Among competitive tenders, the median yield was 0.449% and the low yield 0.300%, Treasury said.
Tenders totaled $33,416,993,200 of which the Treasury accepted $13,000,007,200. Noncompetitive tenders totaled $10,723,200. Fed banks bought nothing for their own accounts.
