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Treasury auctions · 10-year note · highs and lows

What were the highest and lowest results at 10-year Treasury note auctions?

As of , the highest bid-to-cover ratio at a 10-year note auction since was 3.72 on and the lowest 1.22 at 2 auctions, the latest on .

Bid-to-cover ratio

Highest 3.72 on ; lowest 1.22 at 2 auctions, the latest on .

Data from .

Low 1.22 Midpoint 2.470 High 3.72

High yield

Highest 15.020% on ; lowest 0.653% on .

Data from .

Low 0.653% Midpoint 7.8365% High 15.020%

Indirect bidders' share

Highest 87.9% on ; lowest 12.7% on .

Data from .

Low 12.7% Midpoint 50.30% High 87.9%

Direct bidders' share

Highest 45.4% on ; lowest 0.1% at 3 auctions, the latest on .

Data from .

Low 0.1% Midpoint 22.75% High 45.4%

Primary dealers' share

Highest 87.1% on ; lowest 2.5% on .

Data from .

Low 2.5% Midpoint 44.80% High 87.1%

Amount offered

Largest $42 billion at 11 auctions, the latest on ; smallest $1 billion on .

Data from .

Low $1 billion Midpoint $21.5 billion High $42 billion

The numbers behind the chart

What were the highest and lowest of every measure?With the latest day and how many auctions share each
MeasureHighestLatest dayAuctions at itLowestLatest dayAuctions at it
Bid-to-cover ratio3.7211.222
High yield15.020%10.653%1
Indirect bidders' share87.9%112.7%1
Direct bidders' share45.4%10.1%3
Primary dealers' share87.1%12.5%1
Amount offered$42 billion11$1 billion1

The table scrolls sideways; the first column stays in place.

Which auctions share a high or a low?Equal as printed

Two auctions share a value when it prints the same: a ratio to two places, a rate to three, a share to one decimal, an amount to the dollar.

What do the figures leave out, and how are they cited?Limits, dates and how to cite

Auctions of exactly twenty-five million dollars, taken only by primary dealers, are left out of these comparisons.

The amount offered is compared across new issues and reopenings here: this page lists the largest and smallest amounts, not a run of like with like. Single auctions have their own pages where Treasury published the bidder amounts; a bill auction has none.

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 to cite this

U.S. Treasury, Bureau of the Fiscal Service, Fiscal Data, Treasury Securities Auctions Data, through 7 October 2026. Compiled by 500metrics, "What were the highest and lowest results at 10-year Treasury note auctions?", https://500metrics.com/treasury/auctions/10-year-note/records.

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