The Treasury Department sold $11 billion of inflation-indexed nine-year, 10-month Treasury protected securities, or TIPs, at a 0.920% yield, an adjusted price of 102.584550, with a 1 1/8% coupon.

The bid-to-cover ratio was 2.97.

Tenders at the market-clearing yield were allotted 77.76%. The notes are dated Jan. 15 and are due Jan. 15, 2021.

Among competitive tenders, the median yield was 0.870% and the low yield 0.490%, Treasury said.

Tenders totaled $32,688,450,400, of which the Treasury accepted $11,000,036,400. Noncompetitive tenders totaled $68,150,400.

Federal Reserve banks bought $493,298,400 for their own accounts.

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