NEW YORK – The Treasury Department sold $11 billion of inflation-indexed 9-year 8-month TIPs at a 0.099% yield, an adjusted price of 105.733846, with a 5/8% coupon.
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The bid-to-cover ratio was 2.64.
Tenders at the market-clearing yield were allotted 6.08%.
The notes are dated July 15 and are due July 15, 2021.
Among competitive tenders, the median yield was 0.030% and the low yield negative 0.107%, Treasury said.
Tenders totaled $29,023,342,400 of which the Treasury accepted $11,000,022,400. Noncompetitive tenders totaled $22,417,400. Fed banks bought $498,401,700 for their own accounts.
