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Vol. I, No. 6 Afternoon Edition

The Fed Gazette

A civic journal of money and credit

Live Federal Reserve rates, FOMC decisions, speeches, and Treasury data, with every figure copied from the agency that published it.

Treasury data

Treasury Bond Auction Results: 20-Year and 30-Year Bonds

The most recent Treasury bond auction in the snapshot was the 19-Year 11-Month Treasury bond on Sep 15, 2026, with a high yield of 5.420% and a bid-to-cover ratio of 2.570, according to the Treasury’s Fiscal Data auction file.

Source: U.S. Department of the Treasury, Fiscal Data, Treasury securities auctions · Published · Updated

Recent Treasury bond auction results copied from Fiscal Data, with the high yield and bid-to-cover over time and a page for each term.

Treasury Bond auction rates and bid-to-cover over time

High yield at Treasury bond auctions

One point per auction, percent, as Treasury published it. This is the highest yield accepted. Auctions of other terms are in the table.

2.00%3.00%4.00%5.00%6.00%Oct 25Jan 26Apr 26Jul 262.00%3.00%4.00%5.00%6.00%Oct 25Jan 26Apr 26Jul 26
0.00%2.00%4.00%6.00%202220232024202520260.00%2.00%4.00%6.00%20222023202420252026
-2.00%0.00%2.00%4.00%6.00%20222023202420252026-2.00%0.00%2.00%4.00%6.00%20222023202420252026
  • 20-Year 5.204% Aug 19, 2026
  • 30-Year 5.216% Aug 13, 2026

Source: U.S. Department of the Treasury, Fiscal Data, Treasury securities auctions, standard terms · as of · retrieved

Data
High yield in percent for the most recent auctions of 20-Year
Auction dateHigh yield
Aug 19, 20265.204%
May 20, 20265.122%
Feb 18, 20264.664%
Nov 19, 20254.706%
Aug 20, 20254.876%
May 21, 20255.047%
Feb 19, 20254.830%
Nov 20, 20244.680%
Aug 21, 20244.160%
May 22, 20244.635%
Feb 21, 20244.595%
Nov 20, 20234.780%
Bid-to-cover at Treasury bond auctions

One point per auction. The ratio is the figure Treasury published, shown to three decimal places. A higher ratio means more bids were received for each dollar sold.

2.202.302.402.502.602.702.80Oct 25Jan 26Apr 26Jul 262.202.302.402.502.602.702.80Oct 25Jan 26Apr 26Jul 26
2.002.202.402.602.80202220232024202520262.002.202.402.602.8020222023202420252026
2.002.202.402.602.80202220232024202520262.002.202.402.602.8020222023202420252026
  • 20-Year 2.530 Aug 19, 2026
  • 30-Year 2.390 Aug 13, 2026

Source: U.S. Department of the Treasury, Fiscal Data, Treasury securities auctions, standard terms · as of · retrieved

Data
Bid-to-cover for the most recent auctions of 20-Year
Auction dateBid-to-cover
Aug 19, 20262.530
May 20, 20262.550
Feb 18, 20262.360
Nov 19, 20252.410
Aug 20, 20252.540
May 21, 20252.460
Feb 19, 20252.430
Nov 20, 20242.340
Aug 21, 20242.540
May 22, 20242.510
Feb 21, 20242.390
Nov 20, 20232.580

Treasury Bond results by term

Recent Treasury bond auctions

Auction dateSecurityCUSIPOffering amountHigh rate or yieldAverage median yieldBid-to-coverInterest rate
Sep 15, 202619-Year 11-Month Bond912810UX4$13,000,000,0005.420%5.360%2.5705.125%
Sep 10, 202629-Year 11-Month Bond912810UW6$22,000,000,0005.308%5.250%2.6105.125%
Aug 20, 202629-Year 6-Month Bond912810US5$8,000,000,0002.973%2.925%2.8202.375%
Aug 19, 202620-Year Bond912810UX4$16,000,000,0005.204%5.147%2.5305.125%
Aug 13, 202630-Year Bond912810UW6$25,000,000,0005.216%5.150%2.3905.125%
May 20, 202620-Year Bond912810UV8$16,000,000,0005.122%5.068%2.5505.000%
May 13, 202630-Year Bond912810UU0$25,000,000,0005.046%4.990%2.3005.000%
Feb 19, 202630-Year Bond912810US5$9,000,000,0002.473%2.430%2.7502.375%
Feb 18, 202620-Year Bond912810UT3$16,000,000,0004.664%4.595%2.3604.625%
Feb 12, 202630-Year Bond912810UR7$25,000,000,0004.750%4.718%2.6604.750%
Nov 19, 202520-Year Bond912810UQ9$16,000,000,0004.706%4.650%2.4104.625%
Nov 13, 202530-Year Bond912810UP1$25,000,000,0004.694%4.630%2.2904.625%
Aug 20, 202520-Year Bond912810UN6$16,000,000,0004.876%4.820%2.5404.875%
Aug 7, 202530-Year Bond912810UM8$25,000,000,0004.813%4.740%2.2704.750%
May 21, 202520-Year Bond912810UL0$16,000,000,0005.047%4.974%2.4605.000%
May 8, 202530-Year Bond912810UK2$25,000,000,0004.819%4.749%2.3104.750%
Feb 20, 202530-Year Bond912810UH9$9,000,000,0002.403%2.325%2.4802.375%
Feb 19, 202520-Year Bond912810UJ5$16,000,000,0004.830%4.769%2.4304.750%
Feb 13, 202530-Year Bond912810UG1$25,000,000,0004.748%4.680%2.3304.625%
Nov 20, 202420-Year Bond912810UF3$16,000,000,0004.680%4.600%2.3404.625%
Nov 6, 202430-Year Bond912810UE6$25,000,000,0004.608%4.565%2.6404.500%
Aug 21, 202420-Year Bond912810UD8$16,000,000,0004.160%4.095%2.5404.125%
Aug 8, 202430-Year Bond912810UC0$25,000,000,0004.314%4.225%2.3104.250%
May 22, 202420-Year Bond912810UB2$16,000,000,0004.635%4.580%2.5104.625%
May 9, 202430-Year Bond912810UA4$25,000,000,0004.635%4.585%2.4104.625%

As of Sep 15, 2026 · Rates and bid-to-cover are shown to three decimal places. Blank cells are fields the feed left empty · U.S. Department of the Treasury · Fiscal Data, Treasury securities auctions · Retrieved

How Treasury bonds are auctioned, in plain English

The Treasury borrows by selling bills, notes, and bonds at auction on a published schedule. Investors bid, the Treasury accepts bids from the lowest rate upward until it has raised the amount offered, and the results are published as soon as the auction closes.

Offering amount
How many dollars of the security the Treasury offered at that auction.
High yield
For a note or bond, the highest yield accepted at the auction.
Average median yield
A second yield measure that Treasury publishes in the Fiscal Data auction file. This paper prints it as the file gives it.
Interest rate
The fixed rate the security pays, shown for a note or bond once it has been set.
Bid-to-cover
The ratio Treasury publishes for demand at the auction: bids received compared with the amount sold. A higher ratio means more bids for each dollar offered. This paper shows the published ratio to three decimal places and does not compute it.
CUSIP
The nine-character identifier of the security.

Treasury Bond auction questions answered

What were the latest Treasury bond auction results?

The most recent Treasury bond auction in the snapshot was the 19-Year 11-Month Treasury bond on Sep 15, 2026, with a high yield of 5.420% and a bid-to-cover ratio of 2.570, according to the Treasury’s Fiscal Data auction file.

Which auction results does this page show?

The results in the Treasury’s Fiscal Data auction file, for bills, notes, and bonds. Treasury also auctions inflation-protected securities and floating rate notes; this page lists only what its snapshot holds.

Why do some auctions have an odd term, like 9-Year 11-Month?

The Treasury sometimes sells more of an existing security, called a reopening, and labels it with the time left until it matures. The table shows the term exactly as the feed labels it.