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Treasury auctions · 29-Year 10-Month Bond, reopening

30-year bond auction of 8 October 2026 (reopening)

The 30-year bond sold $22.523 billion at a high yield of 5.618% on , with a bid-to-cover ratio of 2.54.

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High yield at each 30-year bond auction

The last 36 auctions, this one last

High yield at each 30-year bond auction, 9 Nov 2023 to 8 Oct 2026
High yield at each 30-year bond auction, 10 Oct 2024 to 8 Oct 2026

Bid-to-cover ratio at each 30-year bond auction

The last 36 auctions, this one last

Bid-to-cover ratio at each 30-year bond auction, 9 Nov 2023 to 8 Oct 2026
Bid-to-cover ratio at each 30-year bond auction, 10 Oct 2024 to 8 Oct 2026

Who bought the 30-year bond of 8 Oct 2026

Shares of the competitive bids accepted

  • Indirect bidders 72.3%
  • Direct bidders 20.9%
  • Primary dealers 6.8%
This auction, 8 Oct 2026
  • Indirect bidders 79.5%
  • Direct bidders 18.3%
  • Primary dealers 2.2%
The 30-year bond auction before, 10 Sep 2026

Each point is one 30-year bond auction, this one last; pointing at the chart shows its date and figures.

Select a line to followLatest:

  • Indirect bidders72.3%
Inspect and compare dates
High yield and bid-to-cover of the last 36 30-year bond auctions, newest first
AuctionHigh yield, %Bid-to-cover
5.6182.54
5.3082.61
5.2162.39
5.0582.44
5.0202.33
5.0462.30
4.8762.39
4.8712.45
4.7502.66
4.8252.42
4.7732.36
4.6942.29
4.7342.38
4.6512.38
4.8132.27
4.8892.38
4.8442.43
4.8192.31
4.8132.43
4.6232.37
4.7482.33
4.9132.52
4.5352.39
4.6082.64
4.3892.50
4.0152.38
4.3142.31
4.4052.30
4.4032.49
4.6352.41
4.6712.37
4.3312.47
4.3602.40
4.2292.37
4.3442.43
4.7692.24

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

Right now

The high yield of 5.618% on 8 October 2026 was the highest for a 30-year bond since 12 August 1999.

Higher than all 212 since 8 May 2008

Its own history

Against the previous 24 30-year bond auctions, the high yield was higher than all 24.

The bid-to-cover ratio was higher than 21 of them.

See every measure against earlier auctions

Who bought

Indirect bidders took the largest share of the competitive bids accepted.

  • Indirect bidders 72.3%
  • Direct bidders 20.9%
  • Primary dealers 6.8%

Size

Treasury sold $22.523 billion of the $22 billion offered.

Bids received came to $56.436 billion; the bid-to-cover ratio was 2.54.

The security29-Year 10-Month, reopening

Coupon
5.125%
Announced
Issued
Matures

It adds to the debt that matures in August 2056.

Understanding this result

Where it stands today

The high yield was 5.618% at this 30-year bond auction, the median yield 5.567% and a bid-to-cover ratio of 2.54.

What do these figures measure?

The high yield is the highest rate Treasury accepted; every winning bidder gets it. The bid-to-cover ratio is bids received divided by the amount sold. Shares are of competitive bids accepted. High minus median shows how far the accepted cut-off sat above the middle accepted bid; it is not the market's auction tail, which needs a when-issued price that is not public.

Read more

How does it compare with the par yield curve?

The par yield curve comparison sets the high yield against Treasury's own par yield curve on the auction day, at the point nearest this security's maturity (30-year). Treasury fixes that curve from market quotes in the late afternoon, after the auction closed, so the gap mixes the auction's pricing with the afternoon's market move. It is not the auction tail either.

What these figures cannot tell

  • 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.

The numbers behind the chart

What did Treasury publish for this auction?Every field, to the dollar
FieldValue
Offered as29-Year 10-Month, reopening
Offering amount$22,000,000,000
Bids received$56,435,875,700
Sold$22,522,535,300
Competitive bids accepted$21,939,603,600
Non-competitive bids accepted$60,409,100
Federal Reserve (SOMA) add-on$522,522,600
Foreign and international (FIMA) non-competitive$0
High yield, %5.618
Median rate, %5.567
Low rate, %5.000
Interest rate (coupon), %5.125
Bids at the high rate filled, %26.77
Bid-to-cover ratio2.54
Indirect bidders accepted$15,866,059,500
Direct bidders accepted$4,583,044,100
Primary dealers accepted$1,490,500,000
Indirect bidders' share, % (ours)72.3
Direct bidders' share, % (ours)20.9
Primary dealers' share, % (ours)6.8
High minus median, basis points (ours)5.1
Treasury par yield curve, 30-year point, same day, %5.60
High yield minus that point, basis points (ours)1.8

Treasury's own files: announcement (PDF) · results (PDF)

How does it compare with earlier auctions?The previous 12 auctions, then every window
Against the previous 12 auctions of the 30-year bond
MeasureThis auctionMedianHigherLower
Bid-to-cover ratio2.542.392 of 1210 of 12
High yield5.6184.8740 of 1212 of 12
Indirect bidders' share72.366.72 of 1210 of 12
Direct bidders' share20.922.69 of 123 of 12
Primary dealers' share6.811.310 of 122 of 12
High minus median, basis points5.15.48 of 123 of 12

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

The longer windows

Each measure against earlier 30-year bond auctions: how many were higher and lower, and their median
MeasureThis auctionWindowHigherLowerMedian
Bid-to-cover ratio2.54Last 24 auctions3 of 2421 of 242.39
Bid-to-cover ratio2.54Since 8 May 200839 of 212169 of 2122.39
Bid-to-cover ratio2.54All 219 since 8 February 200139 of 219176 of 2192.38
High yield5.618Last 24 auctions0 of 2424 of 244.816
High yield5.618Since 8 May 20080 of 212212 of 2123.175
High yield5.618All 286 since 1 November 197964 of 286222 of 2863.900
Indirect bidders' share72.3Last 24 auctions3 of 2421 of 2465.1
Indirect bidders' share72.3All 212 since 8 May 20087 of 212205 of 21260.5
Direct bidders' share20.9Last 24 auctions17 of 247 of 2423.2
Direct bidders' share20.9All 212 since 8 May 200836 of 212176 of 21215.5
Primary dealers' share6.8Last 24 auctions22 of 242 of 2411.8
Primary dealers' share6.8All 212 since 8 May 2008210 of 2122 of 21227.4
High minus median, basis points5.1Last 24 auctions16 of 246 of 245.9
High minus median, basis points5.1Since 8 May 2008125 of 21281 of 2125.8
High minus median, basis points5.1All 286 since 1 November 1979130 of 286150 of 2865.0

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

Where do the figures come from, and how to cite them?

Sources

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.

Source: U.S. Treasury, Daily Treasury par yield curve rates. Observed .

How to cite this

U.S. Treasury, Bureau of the Fiscal Service, Fiscal Data, Treasury Securities Auctions Data, auction of 8 October 2026. Results file: https://www.treasurydirect.gov/instit/annceresult/press/preanre/2026/R_20261008_3.pdf. Compiled by 500metrics, "30-year bond auction of 8 October 2026 (reopening)", https://500metrics.com/treasury/auctions/30-year-bond/2026-10-08.

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

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, daily par yield curve rates (source). Licence: Public domain, a work of the US federal government

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