The Treasury Department yesterday sold $8 billion of inflation-indexed 10-years at a 1.485% yield, an adjusted price of 98.981282, with a 1 375% coupon.

The bid-to-cover ratio was 1.83.

All competitive tenders at yields lower than 1.485% were accepted in full. Tenders at the market-clearing yield were allotted 55.02%.

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

Among competitive tenders, the median yield was 1.420% and the low yield 1.300%.

Tenders totaled $14,642,431,300 of which the Treasury accepted $7,862,030,000. Noncompetitive tenders totaled $88,011,300. Federal Reserve banks bought nothing for their own accounts.

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