Data
Treasury Auctions
Every week, the US Treasury asks the world to lend it money. The auction results tell you whether the world said yes, hesitated, or started walking away. Bond desks watch this religiously. Now you can too.
New to auctions? Read our explainer
Last auction data from Oct 8, 2026. Treasury API data can lag 1-3 business days. Updates run daily on weekdays.
Last Big Auction
30-Year reopening
B+B/C: 2.54 | Tail: -5.2bp
Is Demand Getting Better or Worse?
→ Stable
30-day benchmark average
Are Foreign Buyers Showing Up?
70.0%
above 6-month avg (65.9%)
Next Key Auction
Check Treasury schedule
The latest 30-Year reopening, on Oct 8, 2026, scored a B+. Bid-to-cover at 2.54 with a -5.2bp stop-through. Indirect bidders took 72.3%.
Recent Benchmark Auctions
| Date | Security | Offered | B/C | Yield | Tail | Indirect | Direct | Dealer | Grade | Take |
|---|---|---|---|---|---|---|---|---|---|---|
| Oct 8 | 30-Year | $22B | 2.54 | 5.618% | -5.2bp | 72.3% | 20.9% | 6.8% | B+ | |
| Oct 7 | 10-Year | $39B | 2.77 | 5.300% | +3.0bp | 80.3% | 17.1% | 2.5% | A | |
| Sep 24 | 7-Year | $44B | 2.42 | 5.085% | +3.5bp | 57.2% | 30.3% | 12.5% | F | |
| Sep 23 | 5-Year | $70B | 2.21 | 5.033% | +20.3bp | 54.3% | 29.9% | 15.8% | F | |
| Sep 22 | 2-Year | $69B | 2.63 | 4.787% | +2.7bp | 57.8% | 29.0% | 13.2% | D | |
| Sep 10 | 30-Year | $22B | 2.61 | 5.308% | +2.8bp | 79.5% | 18.3% | 2.2% | B | |
| Sep 9 | 10-Year | $39B | 2.71 | 4.834% | +3.4bp | 79.2% | 16.5% | 4.3% | A | |
| Aug 27 | 7-Year | $44B | 2.50 | 4.512% | +0.2bp | 60.8% | 27.0% | 12.3% | D | |
| Aug 26 | 5-Year | $70B | 2.37 | 4.393% | +4.3bp | 61.5% | 28.4% | 10.1% | D+ | |
| Aug 25 | 2-Year | $69B | 2.60 | 4.204% | -3.6bp | 66.0% | 23.1% | 10.9% | C+ | |
| Aug 13 | 30-Year | $25B | 2.39 | 5.216% | -2.4bp | 66.8% | 21.6% | 11.5% | B | |
| Aug 12 | 10-Year | $42B | 2.53 | 4.683% | -1.7bp | 76.7% | 14.7% | 8.6% | A | |
| Jul 28 | 7-Year | $44B | 2.49 | 4.473% | -4.7bp | 70.2% | 16.9% | 13.0% | C- | |
| Jul 27 | 5-Year | $70B | 2.28 | 4.408% | -2.2bp | 59.2% | 27.2% | 13.5% | F | |
| Jul 27 | 2-Year | $69B | 2.66 | 4.315% | -1.5bp | 56.6% | 34.0% | 9.4% | C- | |
| Jun 25 | 7-Year | $44B | 2.50 | 4.260% | -2.0bp | 57.5% | 29.7% | 12.8% | D- | |
| Jun 24 | 5-Year | $70B | 2.35 | 4.200% | -7.0bp | 61.6% | 25.5% | 12.9% | C- | |
| Jun 23 | 2-Year | $69B | 2.64 | 4.189% | -5.1bp | 55.5% | 34.3% | 10.2% | C- | |
| May 28 | 7-Year | $44B | 2.52 | 4.290% | -3.0bp | 78.4% | 11.2% | 10.4% | B- | |
| May 27 | 5-Year | $70B | 2.34 | 4.182% | -0.8bp | 74.8% | 12.3% | 12.8% | C |
Demand Trends
Bid-to-Cover Ratio Over Time
Rising bid-to-cover means stronger demand for US debt. Above 2.5x is healthy.
Indirect Bidder Allocation (%) Over Time
Indirect bidders are mostly foreign central banks. Higher is better for US debt demand.
Treasury Auctions for Beginners
The US government spends more money than it collects in taxes. To fund the gap, the Treasury borrows by selling securities (bills, notes, and bonds) at auction. These auctions happen on a fixed schedule, multiple times per week.
Bid-to-cover ratio: how many dollars were bid for every dollar of bonds offered. Think of it like a restaurant on opening night. A ratio of 2.5 means $2.50 of orders for every $1.00 of food. Below 2.0 and tables are going empty.
The tail: the difference between what the market expected to pay and what the Treasury actually had to offer. A negative tail (stop-through) means buyers showed up hungry. A positive tail means the Treasury had to sweeten the deal. It's the surprise factor.
Indirect bidders: mostly foreign central banks and overseas institutions. This is the geopolitical signal. When China, Japan, and European central banks show up strong, it means the world still trusts US debt. When they pull back, the largest holders of American IOUs are quietly diversifying.
We grade every benchmark auction (2-year, 5-year, 7-year, 10-year, 30-year) from A to F based on these metrics compared to recent history. Tail data uses FRED prior-day closing yields as a proxy for when-issued levels.