The Treasury Department sold $13 billion of inflation-indexed 10-year TIPs at a 0.489% high yield, an adjusted price of 98.936936, with a 3/8% coupon.

The bid-to-cover ratio was 1.98.

Tenders at the market-clearing yield were allotted 80.49%.

The notes are dated July 15 and are due July 15, 2027.

Among competitive tenders, the median yield was 0.400% and the low yield 0.320%, Treasury said.

Tenders totaled $25,679,272,300 of which the Treasury accepted $13,000,007,300. Noncompetitive tenders totaled $23,992,300. Fed banks bought $1,321,770,100 for their own accounts.

Treasury building.
Treasury building.

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