The Treasury Department Thursday auctioned $16 billion of five-year inflation-indexed notes with a 0.125% coupon, at a negative 0.049% high yield, an adjusted price of 101.002153.

The bid-to-cover ratio was 2.52.


Tenders at the high yield were allotted 21.08%. All competitive tenders at lower yields were accepted in full.

The median yield was negative 0.096%. The low yield was negative 0.200%.

Tenders totaled $40,294,593,300 and the Treasury accepted $16,000,003,300 including $80,323,300 non-competitive.

The Fed banks also bought nothing for their own account.

The notes, which have an issue date of April 28, and a dated date of April 15, will mature April 15, 2022.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.