The Treasury Department yesterday auctioned $8 billion of five-year inflation-indexed notes with a 5/8% coupon, a 0.745% high yield, and a price of 99.560900.

The bid-to-cover ratio was 2.20. Tenders at the high yield were allotted 99.07%. The median yield was 0.710%. The low yield was 0.500%.

Tenders totaled $17,600,385,200 and the Treasury accepted $8,000,022,400, including $111,415,200 of noncompetitive.

Treasury also auctioned $8 billion of four-week bills at a 0.700% high yield, a price of 99.945556.

The coupon equivalent was 0.710%. The bid-to-cover ratio was 4.14. Tenders at the high rate were allotted 34.75%. The median yield was 0.620%. The low yield was 0.500%.

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