October 2, 2017

James E. O’Connor, Esquire
U.S. Securities & Exchange Commission
Division of Investment Management
100 F Street, N.E.
Washington, D.C. 20549

Re:T. Rowe Price Corporate Income Fund, Inc.

T. Rowe Corporate Income Fund—I Class

File Nos.: 033-62275/811-07353

T. Rowe Price Credit Opportunities Fund, Inc.

T. Rowe Price Credit Opportunities Fund—Advisor Class

T. Rowe Price Credit Opportunities Fund—I Class

File Nos.: 333-194114/811-22939

T. Rowe Price Floating Rate Fund, Inc.

T. Rowe Price Floating Rate Fund—Advisor Class

T. Rowe Price Floating Rate Fund—I Class

File Nos.: 333-174605/811-22557

T. Rowe Price Global Multi-Sector Bond Fund, Inc.

T. Rowe Price Global Multi-Sector Bond Fund—Advisor Class

T. Rowe Price Global Multi-Sector Bond Fund—I Class

File Nos.: 333-154155/811-22243

T. Rowe Price GNMA Fund

T. Rowe Price GNMA Fund—I Class

File Nos.: 033-01041/811-4441

T. Rowe Price Government Money Fund

T. Rowe Price Government Money Fund—I Class

File Nos.: 002-54926/811-2603

T. Rowe Price High Yield Fund, Inc.

T. Rowe Price High Yield Fund—Advisor Class

T. Rowe Price High Yield Fund—I Class

T. Rowe Price U.S. High Yield Fund

T. Rowe Price U.S. High Yield Fund—Advisor Class

T. Rowe Price U.S. High Yield Fund—I Class

File Nos.: 002-93707/811-4119

T. Rowe Price Inflation Protected Bond Fund, Inc.

T. Rowe Price Inflation Protected Bond Fund—I Class

File Nos.: 333-99241/811-21185

T. Rowe Price Institutional Income Funds, Inc.

T. Rowe Price Institutional Cash Reserves Fund

T. Rowe Price Institutional Core Plus Fund

T. Rowe Price Institutional Credit Opportunities Fund

T. Rowe Price Institutional Floating Rate Fund

T. Rowe Price Institutional Floating Rate Fund—F Class

T. Rowe Price Institutional Global Multi-Sector Bond Fund

T. Rowe Price Institutional High Yield Fund

T. Rowe Price Institutional Long Duration Credit Fund

File Nos.: 333-84634/811-21055

T. Rowe Price Limited Duration Inflation Focused Bond Fund, Inc.

T. Rowe Price Limited Duration Inflation Focused Bond Fund—I Class

File Nos.: 333-136805/811-21919

T. Rowe Price New Income Fund, Inc.

T. Rowe Price New Income Fund—Advisor Class

T. Rowe Price New Income Fund—I Class

T. Rowe Price New Income Fund—R Class

File Nos.: 002-48848/811-2396

T. Rowe Price Personal Strategy Funds, Inc.

T. Rowe Price Personal Strategy Balanced Fund

T. Rowe Price Personal Strategy Balanced Fund—I Class

T. Rowe Price Personal Strategy Growth Fund

T. Rowe Price Personal Strategy Growth Fund—I Class

T. Rowe Price Personal Strategy Income Fund

T. Rowe Price Personal Strategy Income Fund—I Class

File Nos.: 033-53675/811-07173

T. Rowe Price Retirement Funds, Inc.

T. Rowe Price Retirement 2005 Fund

T. Rowe Price Retirement 2005 Fund—Advisor Class

T. Rowe Price Retirement 2005 Fund—R Class

T. Rowe Price Retirement 2010 Fund

T. Rowe Price Retirement 2010 Fund—Advisor Class

T. Rowe Price Retirement 2010 Fund—R Class

T. Rowe Price Retirement 2015 Fund

T. Rowe Price Retirement 2015 Fund—Advisor Class

T. Rowe Price Retirement 2015 Fund—R Class

T. Rowe Price Retirement 2020 Fund

T. Rowe Price Retirement 2020 Fund—Advisor Class

T. Rowe Price Retirement 2020 Fund—R Class

T. Rowe Price Retirement 2025 Fund

T. Rowe Price Retirement 2025 Fund—Advisor Class

T. Rowe Price Retirement 2025 Fund—R Class

T. Rowe Price Retirement 2030 Fund

T. Rowe Price Retirement 2030 Fund—Advisor Class

T. Rowe Price Retirement 2030 Fund—R Class

T. Rowe Price Retirement 2035 Fund

T. Rowe Price Retirement 2035 Fund—Advisor Class

T. Rowe Price Retirement 2035 Fund—R Class

T. Rowe Price Retirement 2040 Fund

T. Rowe Price Retirement 2040 Fund—Advisor Class

T. Rowe Price Retirement 2040 Fund—R Class

T. Rowe Price Retirement 2045 Fund

T. Rowe Price Retirement 2045 Fund—Advisor Class

T. Rowe Price Retirement 2045 Fund—R Class

T. Rowe Price Retirement 2050 Fund

T. Rowe Price Retirement 2050 Fund—Advisor Class

T. Rowe Price Retirement 2050 Fund—R Class

T. Rowe Price Retirement 2055 Fund

T. Rowe Price Retirement 2055 Fund—Advisor Class

T. Rowe Price Retirement 2055 Fund—R Class

T. Rowe Price Retirement 2060 Fund

T. Rowe Price Retirement 2060 Fund—Advisor Class

T. Rowe Price Retirement 2060 Fund—R Class

T. Rowe Price Retirement Balanced Fund

T. Rowe Price Retirement Balanced Fund—Advisor Class

T. Rowe Price Retirement Balanced Fund—R Class

T. Rowe Price Retirement I 2005 Fund—I Class

T. Rowe Price Retirement I 2010 Fund—I Class

T. Rowe Price Retirement I 2015 Fund—I Class

T. Rowe Price Retirement I 2020 Fund—I Class

T. Rowe Price Retirement I 2025 Fund—I Class

T. Rowe Price Retirement I 2030 Fund—I Class

T. Rowe Price Retirement I 2035 Fund—I Class

T. Rowe Price Retirement I 2040 Fund—I Class

T. Rowe Price Retirement I 2045 Fund—I Class

T. Rowe Price Retirement I 2050 Fund—I Class

T. Rowe Price Retirement I 2055 Fund—I Class

T. Rowe Price Retirement I 2060 Fund—I Class

T. Rowe Price Retirement Balanced I Fund—I Class

T. Rowe Price Target 2005 Fund

T. Rowe Price Target 2005 Fund—Advisor Class

T. Rowe Price Target 2005 Fund—I Class

T. Rowe Price Target 2010 Fund

T. Rowe Price Target 2010 Fund—Advisor Class

T. Rowe Price Target 2010 Fund—I Class

T. Rowe Price Target 2015 Fund

T. Rowe Price Target 2015 Fund—Advisor Class

T. Rowe Price Target 2015 Fund—I Class

T. Rowe Price Target 2020 Fund

T. Rowe Price Target 2020 Fund—Advisor Class

T. Rowe Price Target 2020 Fund—I Class

T. Rowe Price Target 2025 Fund

T. Rowe Price Target 2025 Fund—Advisor Class

T. Rowe Price Target 2025 Fund—I Class

T. Rowe Price Target 2030 Fund

T. Rowe Price Target 2030 Fund—Advisor Class

T. Rowe Price Target 2030 Fund—I Class

T. Rowe Price Target 2035 Fund

T. Rowe Price Target 2035 Fund—Advisor Class

T. Rowe Price Target 2035 Fund—I Class

T. Rowe Price Target 2040 Fund

T. Rowe Price Target 2040 Fund—Advisor Class

T. Rowe Price Target 2040 Fund—I Class

T. Rowe Price Target 2045 Fund

T. Rowe Price Target 2045 Fund—Advisor Class

T. Rowe Price Target 2045 Fund—I Class

T. Rowe Price Target 2050 Fund

T. Rowe Price Target 2050 Fund—Advisor Class

T. Rowe Price Target 2050 Fund—I Class

T. Rowe Price Target 2055 Fund

T. Rowe Price Target 2055 Fund—Advisor Class

T. Rowe Price Target 2055 Fund—I Class

T. Rowe Price Target 2060 Fund

T. Rowe Price Target 2060 Fund—Advisor Class

T. Rowe Price Target 2060 Fund—I Class

File Nos.: 333-92380/811-21149

T. Rowe Price Short-Term Bond Fund, Inc.

T. Rowe Price Short-Term Bond Fund—Advisor Class

T. Rowe Price Short-Term Bond Fund—I Class

T. Rowe Price Ultra Short-Term Bond Fund

T. Rowe Price Ultra Short-Term Bond Fund—I Class

File Nos.: 002-87568/811-3894

T. Rowe Price Total Return Fund, Inc.

T. Rowe Price Return Fund—Advisor Class

T. Rowe Price Return Fund—I Class

File Nos.: 333-213574/811-23180

T. Rowe Price U.S. Treasury Funds, Inc.

U.S. Treasury Intermediate Fund

U.S. Treasury Intermediate Fund—I Class

U.S. Treasury Long-Term Fund

U.S. Treasury Long-Term Fund—I Class

U.S. Treasury Money Fund

U.S. Treasury Money Fund—I Class

File Nos.: 033-30531/811-5860

Dear Mr. O’Connor:

This letter is being filed in accordance with Rule 497(j) of the Securities Act of 1933. There are no changes to the funds’ Statement of Additional Information (“SAI”) or prospectuses that were filed under Rule 485(b) on September 27, 2017.

The prospectuses and SAI went effective automatically on October 1, 2017.

If you have any questions about this filing, please give me a call at 410-345-4981 or, in my absence, Brian R. Poole at 410-345-6646.

Sincerely,

/s/Tawanda L. Cottman
Tawanda L. Cottman