The Treasury Department Thursday sold $5 billion of inflation-indexed 29-year 4-month bonds at a 0.908% high yield, an adjusted price of 100.838047, with a 7/8% coupon.

The bid-to-cover ratio was 2.64.

Bloomberg News

All competitive tenders at yields lower than the high yield were accepted in full. Tenders at the market-clearing yield were allotted 51.28%.

The bonds have an issue date of Oct. 31, a dated date of Aug. 15 and are due Feb. 15, 2047.

Among competitive tenders, the median yield was 0.844% and the low yield was 0.800%, Treasury said.

Tenders totaled $13,200,146,800 of which the Treasury accepted $5,000,001,800. Noncompetitive tenders totaled $10,726,800. The Federal Reserve Banks bought $125,068,400 for their own accounts.

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