NEW YORK – The Treasury Department sold $11 billion of inflation-indexed 9-year 8-month TIPs at a 0.887% yield, an adjusted price of 104.359972, with a 1 1/8% coupon.
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The bid-to-cover ratio was 2.66.
Tenders at the market-clearing yield were allotted 96.76%.
The notes are dated Jan. 15 and are due Jan. 15, 2021.
Among competitive tenders, the median yield was 0.798%39nd the low yield 0.699%, Treasury said.
Tenders totaled $29,244,149,600 of which the Treasury accepted $11,000,002,100. Noncompetitive tenders totaled $30,000,000. Fed banks bought $925,855,500 for their own accounts.
