The Treasury Department yesterday sold $6 billion of inflation-indexed 19-year, six-month bonds at a 2.387% yield, an adjusted price of 101.340316, with a 2 1/2% coupon.
The bid-to-cover ratio was 2.27. Tenders at the market-clearing yield were allotted 97.30%. Among competitive tenders, the median yield was 2.300% and the low yield 2.199%, Treasury said.
Tenders totaled $13,597,902,600, of which the Treasury accepted $6,000,002,600. Noncompetitive tenders totaled $100,012,600. Federal Reserve banks bought $150,301,200 for their own accounts.
Tender rates for Treasury’s latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.190% high rate, unchanged from 0.190% the prior week, and the six-months incurred a 0.275% high rate, down from 0.285% .
Coupon equivalents were 0.193% and 0.279%, respectively. The price for the 91s was 99.951972 and that for the 182s was 99.860972.
The median bid on the 91s was 0.185%. The low bid was 0.130%. Tenders at the high rate were allotted 65.41%. The bid-to-cover ratio was 3.40. Tenders totaled $108,949,878,000 and the Treasury accepted $32,001,331,000, including $1,465,063,300 of noncompetitive.
The median bid for the 182s was 0.250%. The low bid was 0.150%. Tenders at the high rate were allotted 33.32%. The bid-to-cover ratio was 3.87. Tenders totaled $120,027,393,200 and the Treasury accepted $31,000,091,200, including $996,653,200 of noncompetitive.