NEW YORK – The Treasury Department sold $10 billion of inflation-indexed 9-year 10-month TIPs at a 1.019% yield, an adjusted price of 102.109188, with a 1 1/4% coupon.
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The bid-to-cover ratio was 2.80.
Tenders at the market-clearing yield were allotted 24.86%.
The notes are dated July 15 and are due July 15, 2020.
Among competitive tenders, the median yield was 0.940% and the low yield 0.845%, Treasury said.
Tenders totaled $27,961,786,200 of which the Treasury accepted $10,000,001,200. Noncompetitive tenders totaled $62,146,200. Fed banks bought $108,181,800 for their own accounts.
