The Treasury Department yesterday sold $7 billion of inflation-indexed, nine year and nine month TIPs at a 1.510% yield, an adjusted price of 104.288697, with a 1 7/8% coupon.

The bid-to-cover ratio was 3.12. Tenders at the high yield were allotted 14.26%. The notes are dated July 15 and are due July 15, 2019.

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