NEW YORK – The Treasury Department sold $11 billion of inflation-indexed 9-year 10-month TIPs at a 0.920% yield, an adjusted price of 102.584550, with a 1 1/8% coupon.
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The bid-to-cover ratio was 2.97.
Tenders at the market-clearing yield were allotted 77.76%.
The notes are dated Jan. 15 and are due Jan. 15, 2021.
Among competitive tenders, the median yield was 0.870% and the low yield 0.490%, Treasury said.
Tenders totaled $32,688,450,400 of which the Treasury accepted $11,000,036,400. Noncompetitive tenders totaled $68,150,400. Fed banks bought $493,298,400 for their own accounts.
