NEW YORK – The Treasury Department sold $10 billion of inflation-indexed 9-year 8-month TIPs at a 0.409% yield, an adjusted price of 108.103581, with a 1 1/4% coupon.
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The bid-to-cover ratio was 2.91.
Tenders at the market-clearing yield were allotted 86.68%.
The notes are dated July 15 and are due July 15, 2020.
Among competitive tenders, the median yield was 0.318% and the low yield 0.188%, Treasury said.
Tenders totaled $29,078,308,900 of which the Treasury accepted $10,000,008,900. Noncompetitive tenders totaled $43,008,900. Fed banks bought $268,144,100 for their own accounts.
