Treasury 5-Year TIPs Go At Negative 1.286% High Yield

The Treasury Department Thursday auctioned $14 billion of four-year eight-month inflation-indexed notes with a 0.125% coupon, a negative 1.286% high yield, an adjusted price of 107.8500753.

The bid-to-cover ratio was 3.11.

Tenders at the high yield were allotted 70.23%. All competitive tenders at lower yields were accepted in full.

The median yield was negative 1.330%. The low yield was negative 1.410%.

Tenders totaled $43,522,153,900 and the Treasury accepted $14,000,043,900 including $51,753,900 non-competitive.

The Fed banks also bought nothing for their own account in exchange for maturing securities.

The notes, which have an issue date of April 30, are dated April 15, and will mature April 15, 2017.

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