The Treasury Department Thursday auctioned $14 billion of four-year four-month inflation-indexed notes with a 0.125% coupon, at a 0.370% high yield, an adjusted price of 100.374263.

Treasury building.
Treasury building.

The bid-to-cover ratio was 2.78.

Tenders at the high yield were allotted 31.36%. All competitive tenders at lower yields were accepted in full.

The median yield was 0.345%. The low yield was 0.302%.

Tenders totaled $38,965,244,400 and the Treasury accepted $14,000,003,400 including $42,919,400 non-competitive.

The Fed banks also bought nothing for their own account.

The notes, which have an issue date of Dec. 29, and a dated date of April 15, will mature April 15, 2022.

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