NEW YORK – The Treasury Department sold $13 billion of inflation-indexed 10-year TIPs at a 0.639% yield, an adjusted price of 100.076731, with a 5/8% coupon.
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The bid-to-cover ratio was 2.62.
Tenders at the market-clearing yield were allotted 20.04%.
The notes are dated July 29 and are due July 15, 2021.
Among competitive tenders, the median yield was 0.595% and the low yield 0.500%, Treasury said.
Tenders totaled $34,037,613,300 of which the Treasury accepted $13,000,004,500. Noncompetitive tenders totaled $96,088,300. Fed banks bought none for their own accounts.
