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Treasury auction results today

Treasury held 7 auctions in the week to ; the latest, the 26-week bill, sold at a high discount rate of 4.165%.

Latest result for every term

Notes, bonds, TIPS and FRNs: the latest auction of each term
TermAuctionIssueHigh rate, %Bid-to-coverSold, $ billionIndirect, %Dealers, %
2-year noteNew issue4.7872.6379.38857.813.2
3-year noteNew issue4.4742.7258.00062.110.9
5-year noteNew issue5.0332.2180.53954.315.8
7-year noteNew issue5.0852.4250.62457.212.5
10-year noteReopening4.8342.7139.00079.24.3
20-year bondReopening5.4202.5713.00052.516.9
30-year bondReopening5.3082.6122.00079.52.2
5-year TIPSReopening1.9552.6127.59368.63.4
10-year TIPSReopening2.6532.2421.86059.112.2
30-year TIPSReopening2.9732.829.02884.42.1
2-year FRNReopening0.0402.6328.00059.140.9

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Bills: the latest auction of each term, with the discount rate and the investment rate
TermAuctionDiscount rate, %Investment rate, %Bid-to-coverSold, $ billion
4-week bill3.8903.9562.83105.092
6-week bill3.9704.0442.8293.133
8-week bill3.9904.0712.7099.838
13-week bill4.0504.1492.51102.156
17-week bill4.1154.2302.8978.819
26-week bill4.1654.3142.7988.177
52-week bill4.4004.6163.0759.167
cash management bill3.6053.6654.6025.000

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Each term against its own history

The newest auction drew a bid-to-cover below its term's median in 3 of 7 terms

Bid-to-cover at the last 12 auctions of each term, from 2.20 to 3.00; the band is the middle half, the tick the median, the larger dot the newest

The newest auction drew a bid-to-cover below its term's median in 3 of 7 terms2-year note: latest 2.63 on 22 Sep 2026, median 2.63; 3-year note: latest 2.72 on 8 Sep 2026, median 2.65; 5-year note: latest 2.21 on 23 Sep 2026, median 2.34; 7-year note: latest 2.42 on 24 Sep 2026, median 2.50; 10-year note: latest 2.71 on 9 Sep 2026, median 2.50; 20-year bond: latest 2.57 on 15 Sep 2026, median 2.66; 30-year bond: latest 2.61 on 10 Sep 2026, median 2.392.22.42.62.83.02-year note2.633-year note2.725-year note2.217-year note2.4210-year note2.7120-year bond2.5730-year bond2.61The newest auction drew a bid-to-cover below its term's median in 3 of 7 terms2-year note: latest 2.63 on 22 Sep 2026, median 2.63; 3-year note: latest 2.72 on 8 Sep 2026, median 2.65; 5-year note: latest 2.21 on 23 Sep 2026, median 2.34; 7-year note: latest 2.42 on 24 Sep 2026, median 2.50; 10-year note: latest 2.71 on 9 Sep 2026, median 2.50; 20-year bond: latest 2.57 on 15 Sep 2026, median 2.66; 30-year bond: latest 2.61 on 10 Sep 2026, median 2.392.22.42.62.83.02-year note2.633-year note2.725-year note2.217-year note2.4210-year note2.7120-year bond2.5730-year bond2.61

Source: U.S. Treasury, Bureau of the Fiscal Service, Fiscal Data, Treasury Securities Auctions Data. Observed .

These terms as a table
Bid-to-cover at the last 12 auctions of each note and bond term
TermLatestAuctionMedianLowestHighestNext
2-year note2.632.632.442.68
3-year note2.722.652.542.85
5-year note2.212.342.212.75
7-year note2.422.502.422.52
10-year note2.712.502.392.71
20-year bond2.572.662.362.86
30-year bond2.612.392.292.66

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Announced, not yet held

Full schedule

Treasury's announcements: 3-year note, , 6-week bill, , 10-year note, , 30-year bond,

Results this week

Every auction held in the 7 days to 5 October 2026, newest first
TermAuctionHigh rate, %Bid-to-coverSold, $ billionIndirect, %Dealers, %
26-week bill4.1652.7988.17763.226.2
13-week bill4.0502.51102.15648.644.2
8-week bill3.9902.7099.83856.836.1
4-week bill3.8902.83105.09263.931.4
17-week bill4.1152.8978.81957.836.2
6-week bill3.9702.8293.13367.227.8
52-week bill4.4003.0759.16770.924.6

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Tentative auction schedule

Every tentative date
The next auctions Treasury plans and has not yet announced, by date
AuctionTermIssueAnnouncementSettles
17-week bill–
4-week bill–
8-week bill–
6-week bill–
13-week bill–
26-week bill–
17-week bill–
4-week bill–

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Tentative: Treasury plans these dates in its quarterly refunding and may change them; amounts come with each announcement. Treasury's file: tentative auction schedule (XML).

Every auction term

11,135 auctions with results since 31 October 1979, in 32 terms.

Current terms (19), how often each is auctioned
TermHow oftenAuctionsFirstLatest
4-week billWeekly1,314
6-week billWeekly85
8-week billWeekly417
13-week billWeekly2,441
17-week billWeekly207
26-week billWeekly2,441
52-week billEvery 4 weeks508
2-year noteIrregular545
3-year noteMonthly297
5-year noteIrregular394
7-year noteMonthly272
10-year noteMonthly361
20-year bondMonthly78
30-year bondMonthly286
5-year TIPSIrregular67
10-year TIPSIrregular140
30-year TIPSIrregular48
2-year FRNMonthly155
cash management billAs needed934

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Discontinued terms (13)
Discontinued terms
TermAuctionsFirstLast
3-year 3-month note3
3-year 6-month note3
3-year 11-month note3
4-year note43
5-year 2-month note47
6-year 11-month note2
15-year 1-month bond4
20-year 1-month bond19
29-year 9-month bond4
30-year 3-month bond3
5-year 6-month TIPS3
20-year TIPS8
20-year 6-month TIPS3

About these figures

How to read the numbers, their limits and the source

How to read these numbers

The high yield (for bills, the high discount rate) is the highest rate Treasury accepted; every winning bidder gets that rate. The bid-to-cover ratio is bids received divided by the amount sold. Indirect, direct and dealer shares are of competitive bids accepted. The market's auction tail is not shown: it needs the when-issued yield just before bids closed, a price that is not public.

Bid-to-cover against the auction before

  • 2-year note: ▲ 0.03 from the auction of
  • 3-year note: ▲ 0.01 from the auction of
  • 5-year note: ▼ 0.16 from the auction of
  • 7-year note: ▼ 0.08 from the auction of
  • 10-year note: ▲ 0.18 from the auction of
  • 20-year bond: ▲ 0.04 from the auction of
  • 30-year bond: ▲ 0.22 from the auction of
  • 5-year TIPS: ▲ 0.04 from the auction of
  • 10-year TIPS: ▼ 0.06 from the auction of
  • 30-year TIPS: ▲ 0.07 from the auction of
  • 2-year FRN: ▼ 0.51 from the auction of

What this number cannot tell you

  • Why it sold where it did. Results show what was bid and accepted, not the reasons behind any bid.
  • The auction tail as markets quote it. That compares the high yield with the when-issued yield just before bids closed, a market price that is not public; we show high minus median instead, a different measure.
  • Who the bidders are. Indirect bidders include foreign and international accounts bidding through the New York Fed and investors bidding through dealers; Treasury does not publish names.
  • Demand on another day. A bid-to-cover ratio counts bids at one auction against the amount offered, and the amount offered changes from auction to auction.

Source

Source: U.S. Treasury, Bureau of the Fiscal Service, Fiscal Data, Treasury Securities Auctions Data. Observed .

Shares of competitive bids, grades against earlier auctions and the high-minus-median spread are computed by 500metrics from Treasury's published fields; how.

How to cite this

U.S. Treasury, Bureau of the Fiscal Service, Fiscal Data, Treasury Securities Auctions Data, through 5 October 2026. Compiled by 500metrics, "Treasury auction results today", https://500metrics.com/treasury/auctions.

Sources and licence

Sources and licence

  • U.S. Treasury, Bureau of the Fiscal Service, Fiscal Data (source). Licence: Public domain, a work of the US federal government
  • U.S. Treasury, quarterly refunding documents (source). Licence: Public domain, a work of the US federal government

Our text and compilation: CC BY 4.0. How to reuse and cite this page.