The sale stopped through the 4.934% when-issued yield by 0.2 basis points, the fourth consecutive time this has occurred. This current yield rises from the previous auction high of 4.474%, although demand included $1.4 billion in bids from the Federal Reserve.
Wednesday, October 21, 2026
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US 3 Year Note Clears at Highest Yield Since 2006
US Markets14 days ago
The US government sold $58 billion of debt with a high yield of 4.932% on Tuesday in its latest short term treasury auction. This result for 3 year notes is the highest auction yield for the security since 2006, and it came with a bid-to-cover ratio of 2.62. Indirect bidders took 57.6% of the offering, direct bidders took 31.7%, and primary dealers took 10.7%.
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