The Treasury Department Monday sold $7 billion of inflation-indexed 29-year, six-month bonds at a 1.768% yield, an adjusted price of 109.086149, with a 2 1/8% coupon.

The bid-to-cover ratio was 2.78. Tenders at the market-clearing yield were allotted 37.32%. The bonds are dated Aug. 15 and due Feb. 15, 2040.

Among competitive tenders, the median yield was 1.715% and the low yield was 1.600%, Treasury said.

Tenders totaled $19,474,572,300, of which the Treasury accepted $7,000,002,300.

Noncompetitive tenders totaled $38,072,300. Federal Reserve banks bought $171,388,200 for their own accounts.

Meanwhile, tender rates for the Treasury’s latest 92-day and 182-day discount bills were flat, as the three-months incurred a 0.155% high rate, unchanged from the previous week, and the six-months incurred a 0.185% high rate, unchanged from the week before.

Coupon equivalents were 0.157% and 0.188%, respectively. The price for the 92s was 99.960389 and that for the 182s was 99.906472. The median bid on the 92s was 0.140%. The low bid was 0.115%.

Tenders at the high rate were allotted 49.94%. The bid-to-cover ratio was 4.25.

The median bid for the 182s was 0.175%. The low bid was 0.140%. Tenders at the high rate were allotted 30.76%. The bid-to-cover ratio was 4.25.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.