The Treasury Department yesterday sold $8 billion of inflation-indexed 10-year notes at a 1.655% yield, an adjusted price of 99.724557, with a 1 5/8% coupon.

The bid-to-cover ratio was 1.90.

All competitive tenders at yields lower than 1.655% were accepted in full. Tenders at the market-clearing yield were allotted 89.92%.

The notes are dated Jan. 15 and are due Jan. 15, 2018.

Among competitive tenders, the median yield was 1.599% and the low yield 1.490%, Treasury said.

Tenders totaled $15,215,531,000 of which the Treasury accepted $8,000,011,000. Noncompetitive tenders totaled $96,141,000. Federal Reserve banks bought $2,411,955,000 for their own accounts.


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