NEW YORK – The Treasury Department sold $12 billion of inflation-indexed 10-year TIPs at a 1.295% yield, an adjusted price of 99.579194, with a 1 1/4% coupon.
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The bid-to-cover ratio was 2.88.
Tenders at the market-clearing yield were allotted 43.46%.
The notes are dated July 15 and are due July 15, 2020.
Among competitive tenders, the median yield was 1.250% and the low yield 1.163%, Treasury said.
Tenders totaled $34,572,033,900 of which the Treasury accepted $11,851,727,800. Noncompetitive tenders totaled $148,313,900. Fed banks bought $3,407,400 for their own accounts.
