Treasury Auctions · Notes

3-Year Treasury Note Auctions

Every 3-year auction since May 2003: the yield Treasury paid, how many bids came in, and who ended up holding the debt.

Next auction: Tuesday, Oct 6, 2026 · bidding closes 1:00 pm ET, results post minutes later

Latest 3-year Auction

Tuesday, Sep 8, 2026

3-Year Note

Averagedemand vs previous six 3-year auctions

4.474%

stop-out yield · +18.3 bp vs prior auction · highest since June 2024

Size

$58B

3-Year

Bid-to-cover

2.72×

+0.10 vs avg 2.62×

Indirect bidders

62.1%

−3.4 pts vs avg

Dealers took

10.9%

−3.2 pts vs avg

The Sep 8, 2026 3-year note auction sold $58B at a yield of 4.474%, the highest since June 2024. Bidders put in 2.72× the amount on offer, and primary dealers were left with 10.9% of the competitive award. Measured against the previous six 3-year auctions, demand grades average.

Source: Treasury's official results announcement (PDF)

Highest on Record

4.995%

May 9, 2006

Lowest on Record

0.170%

Sep 8, 2020

Last 12 Months

13 auctions

5 above their recent run, 3 below

Auctions Tracked

232

212 graded since 2009

Stop-out yield at every auction

2Y10YAll

Bid-to-cover, last 24 auctions

Each dot is one auction, colored by its demand grade. The white tick is the average of the previous six auctions; the stem shows how far above or below it the auction landed.

Demand vs the series' previous six auctions:StrongSolidAverageSoftWeak

Who bought it

Share of each competitive award. When the blue band at the top grows, the dealers were left holding debt the rest of the market passed on.

■ indirect (incl. foreign central banks) · ■ direct · ■ primary dealers

Every 3-year auction

The 24 most recent 3-Year Treasury Note auctions
Date	Size	Yield	Chg	Cover	Indirect	Direct	Dealers	Demand	Official results
Sep 8, 2026	$58B	4.474%	+18.3 bp	2.72×+0.10	62.1%−3.4 pts	26.9%	10.9%−3.2 pts	Average	PDF
Aug 11, 2026	$58B	4.291%	+11.2 bp	2.71×+0.10	64.2%−0.1 pts	24.0%	11.7%−2.2 pts	Average	PDF
Jul 7, 2026	$58B	4.179%	−1.3 bp	2.60×−0.01	67.5%+5.0 pts	24.8%	7.7%−7.2 pts	Solid	PDF
Jun 9, 2026	$58B	4.192%	+22.7 bp	2.64×+0.03	63.7%−0.2 pts	21.0%	15.3%+1.3 pts	Average	PDF
May 11, 2026	$58B	3.965%	+6.8 bp	2.54×−0.13	63.0%−0.9 pts	20.1%	16.9%+4.2 pts	Average	PDF
Apr 7, 2026	$58B	3.897%	+31.8 bp	2.68×+0.02	74.8%+13.0 pts	11.9%	13.3%+1.0 pts	Solid	PDF
Mar 10, 2026	$58B	3.579%	+6.1 bp	2.55×−0.14	59.8%−4.4 pts	20.7%	19.5%+9.0 pts	Soft	PDF
Feb 10, 2026	$58B	3.518%	−9.1 bp	2.62×−0.06	57.1%−6.6 pts	31.9%	10.9%−0.7 pts	Soft	PDF
Jan 12, 2026	$58B	3.609%	−0.5 bp	2.65×±0.00	56.5%−6.8 pts	29.5%	14.0%+2.0 pts	Soft	PDF
Dec 8, 2025	$58B	3.614%	+3.5 bp	2.64×+0.01	72.0%+9.5 pts	19.0%	9.0%−4.0 pts	Solid	PDF
Nov 10, 2025	$58B	3.579%	+0.3 bp	2.85×+0.27	63.0%+0.6 pts	27.3%	9.7%−4.0 pts	Solid	PDF
Oct 7, 2025	$58B	3.576%	+9.1 bp	2.66×+0.11	62.7%−1.4 pts	26.6%	10.7%−4.7 pts	Average	PDF
Sep 9, 2025	$58B	3.485%	−18.4 bp	2.73×+0.18	74.2%+12.1 pts	17.4%	8.4%−7.6 pts	Strong	PDF
Aug 5, 2025	$58B	3.669%	−22.2 bp	2.53×−0.06	54.0%−11.5 pts	28.1%	17.9%+3.2 pts	Soft	PDF
Jul 8, 2025	$58B	3.891%	−8.1 bp	2.51×−0.10	54.1%−12.5 pts	29.4%	16.5%+1.4 pts	Soft	PDF
Jun 10, 2025	$58B	3.972%	+14.8 bp	2.52×−0.10	66.8%+0.6 pts	18.0%	15.2%+0.1 pts	Average	PDF
May 5, 2025	$58B	3.824%	+4 bp	2.56×−0.07	62.4%−5.2 pts	23.7%	13.9%−2.2 pts	Average	PDF
Apr 8, 2025	$58B	3.784%	−12.4 bp	2.47×−0.15	73.0%+8.2 pts	6.2%	20.7%+4.9 pts	Average	PDF
Mar 11, 2025	$58B	3.908%	−39.2 bp	2.70×+0.08	62.5%−4.9 pts	26.0%	11.5%−4.2 pts	Average	PDF
Feb 11, 2025	$58B	4.300%	−3.2 bp	2.79×+0.21	74.0%+8.1 pts	15.8%	10.2%−6.4 pts	Strong	PDF
Jan 6, 2025	$58B	4.332%	+21.5 bp	2.62×+0.04	61.0%−5.4 pts	19.7%	19.4%+3.6 pts	Average	PDF
Dec 10, 2024	$58B	4.117%	−3.5 bp	2.58×+0.02	64.2%−2.2 pts	20.7%	15.1%−1.5 pts	Average	PDF
Nov 4, 2024	$58B	4.152%	+27.4 bp	2.60×+0.04	70.6%+5.1 pts	9.6%	19.8%+4.0 pts	Average	PDF
Oct 8, 2024	$58B	3.878%	+43.8 bp	2.45×−0.12	56.9%−9.2 pts	24.0%	19.2%+3.4 pts	Soft	PDF

Show 208 earlier auctions, back to May 2003+

Earlier 3-Year Treasury Note auctions
Date	Size	Yield	Cover	Indirect	Dealers	Demand
Sep 10, 2024	$58B	3.440%	2.66×	78.2%	10.5%	Strong
Aug 6, 2024	$58B	3.810%	2.55×	64.4%	15.4%	Average
Jul 9, 2024	$58B	4.399%	2.67×	64.0%	14.8%	Average
Jun 10, 2024	$58B	4.659%	2.43×	64.1%	20.0%	Average
May 7, 2024	$58B	4.605%	2.63×	65.5%	14.9%	Average
Apr 9, 2024	$58B	4.548%	2.50×	60.3%	19.3%	Average
Mar 11, 2024	$56B	4.256%	2.60×	70.0%	14.4%	Strong
Feb 6, 2024	$54B	4.169%	2.58×	66.0%	15.7%	Average
Jan 9, 2024	$52B	4.105%	2.67×	65.3%	17.8%	Average
Dec 11, 2023	$50B	4.490%	2.42×	52.1%	26.2%	Weak
Nov 7, 2023	$48B	4.701%	2.67×	64.6%	16.3%	Average
Oct 10, 2023	$46B	4.740%	2.56×	56.0%	22.1%	Weak
Sep 11, 2023	$44B	4.660%	2.75×	57.7%	20.3%	Weak
Aug 8, 2023	$42B	4.398%	2.90×	74.0%	10.3%	Strong
Jul 11, 2023	$40B	4.534%	2.88×	69.4%	10.8%	Strong
Jun 12, 2023	$40B	4.202%	2.70×	61.5%	16.7%	Average
May 9, 2023	$40B	3.695%	2.93×	73.3%	13.0%	Strong
Apr 11, 2023	$40B	3.810%	2.59×	61.3%	17.7%	Average
Mar 7, 2023	$40B	4.635%	2.73×	62.5%	16.8%	Solid
Feb 7, 2023	$40B	4.073%	2.33×	59.1%	19.9%	Soft
Jan 10, 2023	$40B	3.977%	2.84×	69.5%	17.3%	Strong
Dec 12, 2022	$40B	4.093%	2.55×	61.7%	17.9%	Average
Nov 8, 2022	$40B	4.605%	2.57×	62.2%	20.8%	Average
Oct 11, 2022	$40B	4.318%	2.57×	53.4%	27.0%	Average
Sep 12, 2022	$41B	3.564%	2.49×	54.5%	23.6%	Average
Aug 9, 2022	$42B	3.202%	2.50×	63.1%	19.6%	Average
Jul 11, 2022	$43B	3.093%	2.43×	60.4%	20.3%	Average
Jun 7, 2022	$44B	2.927%	2.45×	51.5%	24.9%	Soft
May 10, 2022	$45B	2.809%	2.59×	62.0%	20.0%	Strong
Apr 11, 2022	$46B	2.738%	2.48×	53.4%	29.0%	Average
Mar 8, 2022	$48B	1.775%	2.39×	55.1%	26.3%	Average
Feb 8, 2022	$50B	1.592%	2.45×	68.5%	20.3%	Strong
Jan 11, 2022	$52B	1.237%	2.47×	61.6%	22.8%	Strong
Dec 7, 2021	$54B	1.000%	2.43×	52.2%	29.8%	Average
Nov 8, 2021	$56B	0.750%	2.33×	57.6%	24.3%	Average
Oct 12, 2021	$58B	0.635%	2.36×	44.2%	36.9%	Weak
Sep 7, 2021	$58B	0.447%	2.45×	56.7%	24.4%	Solid
Aug 10, 2021	$58B	0.465%	2.54×	55.4%	26.2%	Average
Jul 12, 2021	$58B	0.426%	2.41×	53.2%	28.6%	Average
Jun 8, 2021	$58B	0.325%	2.47×	54.2%	27.6%	Solid
May 11, 2021	$58B	0.329%	2.42×	49.6%	32.3%	Average
Apr 12, 2021	$58B	0.376%	2.32×	51.1%	33.1%	Average
Mar 9, 2021	$58B	0.355%	2.69×	47.8%	34.0%	Solid
Feb 9, 2021	$58B	0.196%	2.39×	52.7%	31.2%	Average
Jan 11, 2021	$58B	0.234%	2.52×	52.2%	33.2%	Average
Dec 8, 2020	$56B	0.211%	2.28×	49.3%	34.9%	Average
Nov 9, 2020	$54B	0.250%	2.40×	38.9%	46.8%	Weak
Oct 6, 2020	$52B	0.193%	2.44×	55.7%	31.7%	Average
Sep 8, 2020	$50B	0.170%	2.28×	50.7%	36.3%	Average
Aug 11, 2020	$48B	0.179%	2.44×	57.0%	30.7%	Solid
Jul 7, 2020	$46B	0.190%	2.44×	54.3%	32.4%	Average
Jun 8, 2020	$44B	0.280%	2.55×	53.3%	32.2%	Average
May 11, 2020	$42B	0.230%	2.54×	54.4%	32.6%	Average
Apr 6, 2020	$40B	0.348%	2.27×	55.4%	40.5%	Soft
Mar 10, 2020	$38B	0.563%	2.20×	52.3%	44.0%	Weak
Feb 11, 2020	$38B	1.394%	2.56×	43.9%	38.0%	Average
Jan 7, 2020	$38B	1.567%	2.45×	47.5%	35.8%	Average
Dec 9, 2019	$38B	1.632%	2.56×	49.1%	27.1%	Solid
Nov 5, 2019 r	$38B	1.630%	2.60×	53.3%	29.7%	Strong
Oct 8, 2019	$38B	1.413%	2.43×	45.8%	37.3%	Average
Sep 10, 2019	$38B	1.573%	2.42×	46.2%	37.2%	Average
Aug 6, 2019	$38B	1.562%	2.41×	46.7%	34.0%	Average
Jul 9, 2019	$38B	1.857%	2.39×	48.5%	33.6%	Average
Jun 11, 2019	$38B	1.861%	2.62×	56.6%	30.0%	Strong
May 7, 2019	$38B	2.248%	2.48×	37.9%	42.0%	Soft
Apr 9, 2019	$38B	2.301%	2.49×	42.7%	38.6%	Average
Mar 11, 2019	$38B	2.448%	2.56×	49.5%	41.1%	Average
Feb 5, 2019	$38B	2.502%	2.55×	45.7%	35.9%	Solid
Jan 8, 2019	$38B	2.559%	2.44×	41.9%	40.4%	Average
Dec 11, 2018	$38B	2.748%	2.59×	50.5%	37.0%	Solid
Nov 5, 2018	$37B	2.983%	2.54×	49.1%	47.9%	Average
Oct 10, 2018	$36B	2.989%	2.56×	46.9%	43.3%	Soft
Sep 11, 2018	$35B	2.821%	2.68×	46.3%	43.0%	Average
Aug 7, 2018	$34B	2.765%	2.65×	42.7%	45.2%	Soft
Jul 10, 2018	$33B	2.685%	2.51×	39.6%	51.3%	Weak
Jun 11, 2018	$32B	2.664%	2.83×	51.4%	39.4%	Average
May 8, 2018	$31B	2.664%	2.76×	45.6%	42.2%	Weak
Apr 10, 2018	$30B	2.450%	2.85×	47.6%	40.9%	Soft
Mar 12, 2018	$28B	2.436%	2.94×	50.0%	40.7%	Average
Feb 6, 2018	$26B	2.280%	3.00×	49.8%	40.5%	Soft
Jan 9, 2018	$24B	2.080%	3.13×	54.9%	33.6%	Solid
Dec 11, 2017	$24B	1.932%	3.15×	59.0%	33.6%	Solid
Nov 7, 2017	$24B	1.750%	2.76×	53.5%	37.5%	Average
Oct 11, 2017	$24B	1.657%	2.83×	54.3%	38.6%	Average
Sep 11, 2017	$24B	1.433%	2.70×	46.2%	43.4%	Weak
Aug 8, 2017	$24B	1.520%	3.13×	64.1%	25.8%	Strong
Jul 11, 2017	$24B	1.573%	2.87×	52.6%	37.6%	Average
Jun 12, 2017	$24B	1.500%	3.00×	65.6%	28.2%	Strong
May 9, 2017	$24B	1.572%	2.76×	50.8%	39.9%	Average
Apr 10, 2017	$24B	1.525%	2.62×	51.8%	39.9%	Soft
Mar 7, 2017	$24B	1.630%	2.74×	49.4%	42.2%	Average
Feb 7, 2017	$24B	1.423%	2.78×	57.2%	34.7%	Strong
Jan 10, 2017	$24B	1.472%	2.97×	54.6%	38.8%	Solid
Dec 12, 2016	$24B	1.452%	2.65×	42.6%	48.5%	Weak
Nov 8, 2016	$24B	1.034%	2.69×	42.6%	49.7%	Weak
Oct 12, 2016	$24B	1.045%	2.92×	52.1%	37.7%	Average
Sep 12, 2016	$24B	0.947%	2.77×	54.8%	40.5%	Average
Aug 9, 2016	$24B	0.850%	2.98×	56.9%	33.7%	Strong
Jul 11, 2016	$24B	0.765%	2.69×	44.7%	39.4%	Soft
Jun 7, 2016	$24B	0.930%	2.79×	48.1%	40.8%	Soft
May 10, 2016	$24B	0.875%	2.93×	61.5%	28.3%	Strong
Apr 12, 2016	$24B	0.890%	2.72×	56.0%	32.6%	Solid
Mar 8, 2016	$24B	1.039%	2.71×	46.2%	44.7%	Weak
Feb 9, 2016	$24B	0.844%	2.74×	41.5%	43.5%	Weak
Jan 12, 2016	$24B	1.174%	2.94×	62.8%	27.8%	Solid
Dec 8, 2015	$24B	1.255%	3.14×	47.4%	34.0%	Solid
Nov 9, 2015	$24B	1.271%	2.82×	40.8%	44.1%	Weak
Oct 6, 2015	$24B	0.895%	3.14×	47.7%	41.1%	Average
Sep 8, 2015	$24B	1.056%	3.23×	51.0%	41.0%	Average
Aug 11, 2015	$24B	1.013%	3.34×	52.8%	39.0%	Average
Jul 7, 2015	$24B	0.932%	3.16×	47.7%	38.4%	Soft
Jun 9, 2015	$24B	1.125%	3.33×	50.7%	39.6%	Average
May 12, 2015	$24B	1.000%	3.34×	52.7%	35.7%	Strong
Apr 7, 2015	$24B	0.865%	3.25×	49.4%	39.5%	Average
Mar 10, 2015	$24B	1.104%	3.33×	51.4%	40.5%	Solid
Feb 10, 2015	$24B	1.050%	3.34×	48.9%	43.9%	Solid
Jan 12, 2015	$24B	0.926%	3.33×	45.8%	39.4%	Strong
Dec 9, 2014	$25B	1.066%	3.24×	42.2%	47.7%	Solid
Nov 10, 2014	$26B	0.998%	3.18×	37.7%	47.1%	Average
Oct 7, 2014	$27B	0.994%	3.42×	35.5%	47.0%	Average
Sep 9, 2014	$27B	1.066%	3.17×	33.1%	46.6%	Average
Aug 12, 2014	$27B	0.924%	3.03×	36.2%	44.8%	Soft
Jul 8, 2014	$27B	0.992%	3.38×	38.2%	49.1%	Solid
Jun 10, 2014	$28B	0.930%	3.41×	26.5%	54.1%	Soft
May 6, 2014	$29B	0.928%	3.40×	28.1%	47.4%	Average
Apr 8, 2014	$30B	0.895%	3.36×	27.3%	48.8%	Soft
Mar 11, 2014	$30B	0.802%	3.25×	29.9%	54.6%	Soft
Feb 11, 2014	$30B	0.715%	3.42×	42.0%	41.3%	Strong
Jan 7, 2014	$30B	0.799%	3.25×	28.0%	49.4%	Soft
Dec 10, 2013	$30B	0.631%	3.55×	38.4%	49.6%	Solid
Nov 12, 2013	$30B	0.644%	3.46×	33.3%	47.3%	Solid
Oct 8, 2013	$30B	0.710%	3.05×	34.4%	45.8%	Average
Sep 10, 2013	$31B	0.913%	3.29×	33.1%	46.8%	Solid
Aug 6, 2013	$32B	0.631%	3.21×	41.4%	44.7%	Strong
Jul 9, 2013	$32B	0.719%	3.35×	35.6%	51.5%	Solid
Jun 11, 2013	$32B	0.581%	2.95×	33.1%	58.4%	Average
May 7, 2013	$32B	0.354%	3.38×	30.7%	54.7%	Solid
Apr 9, 2013	$32B	0.342%	3.24×	19.0%	64.9%	Weak
Mar 12, 2013	$32B	0.411%	3.51×	20.6%	56.0%	Soft
Feb 12, 2013	$32B	0.411%	3.59×	18.0%	55.1%	Soft
Jan 8, 2013	$32B	0.385%	3.62×	28.4%	45.2%	Solid
Dec 11, 2012	$32B	0.327%	3.36×	21.9%	53.3%	Weak
Nov 6, 2012	$32B	0.392%	3.41×	25.1%	52.7%	Weak
Oct 9, 2012	$32B	0.346%	3.96×	28.8%	48.7%	Strong
Sep 11, 2012	$32B	0.337%	3.94×	36.8%	49.8%	Strong
Aug 7, 2012	$32B	0.370%	3.51×	29.7%	61.9%	Average
Jul 10, 2012	$32B	0.366%	3.52×	30.0%	59.8%	Average
Jun 12, 2012	$32B	0.387%	3.53×	27.0%	60.9%	Soft
May 8, 2012	$32B	0.362%	3.65×	35.7%	53.1%	Solid
Apr 10, 2012	$32B	0.427%	3.36×	40.0%	52.2%	Average
Mar 12, 2012	$32B	0.456%	3.44×	34.6%	56.5%	Average
Feb 7, 2012	$32B	0.347%	3.30×	27.7%	63.8%	Weak
Jan 10, 2012	$32B	0.370%	3.73×	38.5%	56.1%	Average
Dec 12, 2011	$32B	0.352%	3.62×	39.1%	53.9%	Solid
Nov 8, 2011	$32B	0.379%	3.41×	38.7%	41.5%	Strong
Oct 11, 2011	$32B	0.544%	3.30×	37.8%	54.3%	Average
Sep 12, 2011	$32B	0.334%	3.15×	35.7%	53.7%	Average
Aug 9, 2011	$32B	0.500%	3.29×	47.9%	41.0%	Strong
Jul 12, 2011	$32B	0.670%	3.22×	34.5%	49.0%	Solid
Jun 7, 2011	$32B	0.765%	3.28×	35.6%	55.2%	Solid
May 10, 2011	$32B	1.000%	3.29×	32.7%	51.9%	Solid
Apr 12, 2011	$32B	1.280%	3.25×	33.7%	57.4%	Solid
Mar 8, 2011	$32B	1.298%	3.22×	34.4%	53.3%	Solid
Feb 8, 2011	$32B	1.349%	3.01×	27.6%	62.3%	Weak
Jan 11, 2011	$32B	1.027%	3.06×	39.4%	44.5%	Average
Dec 7, 2010	$32B	0.862%	2.91×	36.7%	45.4%	Soft
Nov 8, 2010	$32B	0.575%	3.26×	35.0%	51.1%	Weak
Oct 12, 2010	$32B	0.569%	2.95×	29.0%	59.1%	Weak
Sep 7, 2010	$33B	0.790%	3.21×	42.4%	45.9%	Soft
Aug 10, 2010	$34B	0.844%	3.31×	40.5%	43.7%	Soft
Jul 12, 2010	$35B	1.055%	3.20×	40.6%	45.1%	Weak
Jun 8, 2010	$36B	1.220%	3.23×	46.7%	37.0%	Solid
May 11, 2010	$38B	1.414%	3.27×	50.7%	32.7%	Solid
Apr 6, 2010	$40B	1.776%	3.10×	52.2%	37.0%	Average
Mar 9, 2010	$40B	1.437%	3.13×	51.8%	37.8%	Average
Feb 9, 2010	$40B	1.377%	2.83×	51.2%	38.7%	Soft
Jan 12, 2010	$40B	1.490%	2.98×	38.0%	38.6%	Soft
Dec 8, 2009	$40B	1.223%	2.98×	60.9%	36.2%	Average
Nov 9, 2009	$40B	1.404%	3.33×	68.5%	23.9%	Strong
Oct 6, 2009	$39B	1.445%	2.76×	49.1%	40.0%	Solid
Sep 8, 2009	$38B	1.487%	3.02×	54.2%	42.5%	Strong
Aug 11, 2009	$37B	1.780%	2.89×	62.5%	35.5%	Strong
Jul 7, 2009	$35B	1.519%	2.62×	54.0%	38.5%	Strong
Jun 9, 2009	$35B	1.960%	2.82×	43.8%	40.5%	Strong
May 5, 2009	$35B	1.473%	2.66×	37.3%	56.6%	Solid
Apr 8, 2009	$35B	1.385%	2.42×	38.5%	58.5%	Average
Mar 10, 2009	$34B	1.489%	2.26×	40.3%	57.9%	Average
Feb 10, 2009	$32B	1.419%	2.67×	44.8%	54.1%	Strong
Jan 7, 2009	$30B	1.200%	2.21×	28.0%	70.9%	—
Dec 10, 2008	$28B	1.245%	2.15×	35.3%	64.5%	—
Nov 10, 2008	$25B	1.800%	3.07×	36.1%	62.7%	—
May 7, 2007	$14B	4.574%	2.39×	—	—	—
Feb 6, 2007	$16B	4.800%	2.97×	—	—	—
Nov 8, 2006	$19B	4.666%	2.27×	—	—	—
Aug 7, 2006	$21B	4.898%	2.14×	—	—	—
May 9, 2006	$21B	4.995%	2.31×	—	—	—
Feb 7, 2006	$21B	4.595%	2.03×	—	—	—
Nov 8, 2005	$18B	4.458%	2.42×	—	—	—
Aug 8, 2005	$18B	4.204%	2.31×	—	—	—
May 10, 2005	$22B	3.821%	2.38×	—	—	—
Feb 8, 2005	$22B	3.470%	2.01×	—	—	—
Nov 8, 2004 r	$22B	3.090%	2.24×	—	—	—
Aug 9, 2004	$22B	2.842%	2.02×	—	—	—
May 11, 2004	$24B	3.199%	2.08×	—	—	—
Feb 10, 2004	$24B	2.330%	2.27×	—	—	—
Nov 10, 2003	$24B	2.625%	2.11×	—	—	—
Aug 5, 2003	$24B	2.422%	1.32×	—	—	—
May 6, 2003	$22B	2.009%	1.96×	—	—	—

Yield = stop-out (high) yield; a real yield for TIPS. Chg = versus the previous auction of the same security. Cover = bid-to-cover ratio. Indirect, direct and dealer shares are of the competitive award. Small figures under a measure compare it with the previous six auctions of the same security, colored when the move is big enough to count toward the grade: orange for stronger demand, bluefor weaker. r = reopening of an existing issue. PDF = Treasury's official results.

Frequently Asked Questions

What yield did the last 3-year auction clear at?

When is the next 3-year auction?

The next 3-Year Treasury Note auction is on Tuesday, Oct 6, 2026. Competitive bidding closes at 1:00 pm Eastern and this page updates shortly after the results post.

What is the highest yield at a 3-year auction since 2003?

4.995%, on May 9, 2006. The lowest was 0.170% on Sep 8, 2020. The record on this page starts with the May 2003 auction.

How often does Treasury auction the 3-year?

Treasury held 13 of these auctions in the last twelve months, each a new issue. A reopening sells more of an existing security, with the same maturity date and coupon, instead of creating a new one.

Data: US Department of the Treasury (Fiscal Data and TreasuryDirect). Demand grades are TFTC's calculation; the method is on the Treasury auctions tracker. Full history as open JSON (CC BY 4.0). Not investment advice.