The Treasury Department sold $13 billion of inflation-indexed 10-year TIPs at a negative 0.750% yield, an adjusted price of 108.522783, with a 1/8% coupon.

The bid-to-cover ratio was 2.36.

Tenders at the market-clearing yield were allotted 99.47%.

The notes are dated July 15 and are due July 15, 2022.

Among competitive tenders, the median yield was negative 0.855% and the low yield negative 0.960%, Treasury said.

Tenders totaled $30,635,753,200 of which the Treasury accepted $13,000,025,200. Noncompetitive tenders totaled $28,008,200. Fed banks bought nothing for their own accounts.

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