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Treasury Auctions

Bonds and credit

10Y bid-to-cover
2.77ratio
3M 6M 1Y 5Y 10Y ALL
History
FirstLast
10Y nominal bid-to-cover ratio2.432.77
History ratio 10Y nominal bid-to-cover: 2.43 to 2.77 ratio Nov 12, 25 Oct 7, 26

Treasury bill auctions show mixed demand today

In plain words

The government sold short-term IOUs called Treasury bills today. Buyers were about as eager as usual on some sales and less eager on others, and people watch these sales because they show what it costs the government to borrow.

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Written by AI from the numbers on this page. Not advice.

17-Week Bill - 2026-10-15 - 912797WF0

High yield 4.13% +0
High yield - previous six average 4.13% -
Bid-to-cover 2.26ratio -0.46
Bid-to-cover - previous six average 2.72ratio -
Direct 5.70% -2
Direct - previous six average 7.24% -
Indirect 46.93% -13
Indirect - previous six average 60.26% -
Dealers 47.37% +15
Dealers - previous six average 32.50% -

26-Week Bill - 2026-10-13 - 912797VT1

High yield 4.19% -1
High yield - previous six average 4.20% -
Bid-to-cover 2.68ratio -0.08
Bid-to-cover - previous six average 2.76ratio -
Direct 7.25% +0
Direct - previous six average 7.23% -
Indirect 59.57% -2
Indirect - previous six average 61.89% -
Dealers 33.18% +2
Dealers - previous six average 30.89% -

52-Week Bill - 2026-10-13 - 912797UE5

High yield 4.35% +17
High yield - previous six average 4.18% -
Bid-to-cover 2.76ratio -0.23
Bid-to-cover - previous six average 2.99ratio -
Direct 10.49% +6
Direct - previous six average 4.77% -
Indirect 66.28% +0
Indirect - previous six average 65.81% -
Dealers 23.23% -6
Dealers - previous six average 29.41% -

2-Year FRN - 2026-09-23 - 91282CRD5

High yield - -
High yield - previous six average - -
Bid-to-cover 2.63ratio -0.59
Bid-to-cover - previous six average 3.22ratio -
Direct 0.00% 0
Direct - previous six average 0.18% -
Indirect 59.09% -5
Indirect - previous six average 64.25% -
Dealers 40.91% +5
Dealers - previous six average 35.57% -

2-Year Note - 2026-09-22 - 91282CRP8

High yield 4.79% +70
High yield - previous six average 4.09% -
Bid-to-cover 2.63ratio +0.03
Bid-to-cover - previous six average 2.61ratio -
Direct 29.02% +1
Direct - previous six average 28.28% -
Indirect 57.79% -1
Indirect - previous six average 58.58% -
Dealers 13.19% +0
Dealers - previous six average 13.14% -

3-Year Note - 2026-10-06 - 91282CRQ6

High yield 4.93% +77
High yield - previous six average 4.17% -
Bid-to-cover 2.62ratio -0.03
Bid-to-cover - previous six average 2.65ratio -
Direct 31.66% +10
Direct - previous six average 21.46% -
Indirect 57.59% -8
Indirect - previous six average 65.89% -
Dealers 10.74% -2
Dealers - previous six average 12.64% -

5-Year Note - 2026-09-23 - 91282CRN3

High yield 5.03% +85
High yield - previous six average 4.19% -
Bid-to-cover 2.21ratio -0.12
Bid-to-cover - previous six average 2.33ratio -
Direct 29.92% +8
Direct - previous six average 21.84% -
Indirect 54.31% -11
Indirect - previous six average 65.23% -
Dealers 15.77% +3
Dealers - previous six average 12.93% -

5-Year TIPS - 2026-06-18 - 91282CQP9

High yield 1.96% +38
High yield - previous six average 1.58% -
Bid-to-cover 2.61ratio +0.18
Bid-to-cover - previous six average 2.44ratio -
Direct 27.99% +6
Direct - previous six average 22.16% -
Indirect 68.59% +4
Indirect - previous six average 64.93% -
Dealers 3.43% -9
Dealers - previous six average 12.90% -

7-Year Note - 2026-09-24 - 91282CRM5

High yield 5.09% +76
High yield - previous six average 4.33% -
Bid-to-cover 2.42ratio -0.07
Bid-to-cover - previous six average 2.49ratio -
Direct 30.27% +7
Direct - previous six average 23.30% -
Indirect 57.20% -7
Indirect - previous six average 64.63% -
Dealers 12.53% +0
Dealers - previous six average 12.07% -

10-Year Note - 2026-10-07 - 91282CRF0

High yield 5.30% +74
High yield - previous six average 4.56% -
Bid-to-cover 2.77ratio +0.23
Bid-to-cover - previous six average 2.54ratio -
Direct 17.12% +0
Direct - previous six average 17.03% -
Indirect 80.34% +6
Indirect - previous six average 74.15% -
Dealers 2.54% -6
Dealers - previous six average 8.82% -

10-Year TIPS - 2026-09-17 - 91282CRE3

High yield 2.65% +65
High yield - previous six average 2.00% -
Bid-to-cover 2.24ratio -0.14
Bid-to-cover - previous six average 2.38ratio -
Direct 28.70% +4
Direct - previous six average 24.45% -
Indirect 59.12% -4
Indirect - previous six average 63.34% -
Dealers 12.18% 0
Dealers - previous six average 12.21% -

20-Year Bond - 2026-09-15 - 912810UX4

High yield 5.42% +40
High yield - previous six average 5.02% -
Bid-to-cover 2.57ratio -0.08
Bid-to-cover - previous six average 2.65ratio -
Direct 30.68% +9
Direct - previous six average 21.36% -
Indirect 52.47% -16
Indirect - previous six average 67.98% -
Dealers 16.85% +6
Dealers - previous six average 10.67% -

30-Year Bond - 2026-10-08 - 912810UW6

High yield 5.62% +53
High yield - previous six average 5.09% -
Bid-to-cover 2.54ratio +0.13
Bid-to-cover - previous six average 2.41ratio -
Direct 20.89% +0
Direct - previous six average 20.57% -
Indirect 72.32% +3
Indirect - previous six average 69.13% -
Dealers 6.79% -4
Dealers - previous six average 10.30% -

30-Year TIPS - 2026-08-20 - 912810US5

High yield 2.97% +68
High yield - previous six average 2.29% -
Bid-to-cover 2.82ratio +0.24
Bid-to-cover - previous six average 2.58ratio -
Direct 13.45% -5
Direct - previous six average 18.72% -
Indirect 84.45% +9
Indirect - previous six average 75.56% -
Dealers 2.10% -4
Dealers - previous six average 5.72% -

Leads to

Treasury Auctions

1 / 5

Auction demand

How do Treasury auction yields, demand and bidder shares compare with the previous six auctions of the same original maturity and security type?

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