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Treasury Auction

10-Year Note

January 22, 2026

F

Key Metrics

Offered

$21B

Bid-to-Cover

2.38

th percentile

High Yield

1.940%

Tail

bp

Indirect

67.4%

Dealer

12.2%

Recent 10-Year Auctions

DateB/CTailIndirectGrade
November 12, 20252.43bp67.0%F
August 6, 20252.35bp64.2%F
July 24, 20252.41bp62.7%F
May 6, 20252.60bp71.2%F
February 12, 20252.48bp71.5%F

10-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History