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Treasury Auction

10-Year Note

August 12, 2026

A

Key Metrics

Offered

$42B

Bid-to-Cover

2.53

71th percentile

High Yield

4.683%

Tail

-1.7bp

17th pct (higher=worse)

Indirect

76.7%

100th percentile

Dealer

8.6%

Recent 10-Year Auctions

DateB/CTailIndirectGrade
May 12, 20262.40+4.8bp64.0%D+
February 11, 20262.39+1.7bp64.5%C-
November 12, 20252.43—bp67.0%C
August 6, 20252.35+3.5bp64.2%F
May 6, 20252.60-1.8bp71.2%B-

10-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History