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Treasury Auction

10-Year Note

February 11, 2026

C-

Key Metrics

Offered

$42B

Bid-to-Cover

2.39

29th percentile

High Yield

4.177%

Tail

+1.7bp

33th pct (higher=worse)

Indirect

64.5%

29th percentile

Dealer

13.4%

Recent 10-Year Auctions

DateB/CTailIndirectGrade
November 12, 20252.43bp67.0%C
August 6, 20252.35+3.5bp64.2%F
May 6, 20252.60-1.8bp71.2%B-
February 12, 20252.48+9.2bp71.5%D
November 5, 20242.58+3.7bp61.7%D

10-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History