NEW YORK – The Treasury Department sold $8 billion of inflation-indexed 9-year 9-month TIPs at a 1.709% yield, an adjusted price of 97.219605, with a 1 3/8% coupon.
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The bid-to-cover ratio was 3.43.
Tenders at the market-clearing yield were allotted 49.67%.
The notes are dated Jan. 15 and are due Jan. 15, 2020.
Among competitive tenders, the median yield was 1.650% and the low yield 1.571%, Treasury said.
Tenders totaled $27,343,380,000 of which the Treasury accepted $7,882,605,000. Noncompetitive tenders totaled $117,395,200. Fed banks bought $585,631,700 for their own accounts.
