--- title: "10-Year Treasury Auction Results: Sep 9, 2026" description: "10-Year Treasury Note, Sep 9, 2026: 4.834% high yield, 1.5bp through, 2.71x cover, indirects 79.2%. Next auction Oct 7, 2026." source: Helious canonical: "https://helious.io/auctions/10-year-note" --- # 10-Year Treasury Note Auction: Results, Schedule & History High yield 4.834% Sep 9, 2026 Tail -1.5bp stopped through Bid to cover 2.71 12m avg 2.49 Indirects 79.2% 12m avg 70.8% [Ask Helious about the 10-Year Treasury Note auction](https://helious.io/?ask=How%20did%20the%20last%2010-Year%20Treasury%20Note%20auction%20go%20and%20what%20does%20the%20tail%20say%3F&from=/auctions/10-year-note) High yield, last 12 auctions 4.834%4.454%4.074% 2025-10-082026-09-09 Human Agent Last result · Sep 9, 2026 4.834% tail -1.5bp · b/c 2.71 · indirects 79.2% STRONG { "tenor": "10-year-note", "date": "2026-09-09", "offering_usd": 39000000000, "high_yield": 4.834, "tail_bps": -1.5, "bid_to_cover": 2.71, "indirect_pct": 79.2, "verdict": "STRONG" } The 10-Year Treasury Note auction on Sep 9, 2026 put $39B on offer and stopped at a high yield of 4.834%, 1.5bp through the when-issued yield. The bid-to-cover was 2.71, against a twelve-month average of 2.49. Indirects took 79.2%, directs 16.5% and primary dealers 4.3%. Helious captured the result live as it crossed and graded it STRONG. Mortgages, corporate debt and the discount rate on equities all take their cue from the 10-year, the world's benchmark risk-free rate. That is why an auction in it is a macro event in its own right. Traders read the tail and the indirect share two ways: as a verdict on whether foreign buyers still want US duration, and as a signal that term premium, the extra yield investors want for lending longer, is repricing against how much the Treasury has to sell. NEXT AUCTION Oct 7, 2026 Results cross ~13:00 ET. The desk posts its recap and verdict within seconds. LATEST RESULT: SEP 9, 2026 4.834%high yield $39Bon offer 2.71bid-to-cover+0.22 vs avg 79.2%indirects+8.45 vs avg 16.5%directs-2.85 vs avg 4.3%dealer take-5.61 vs avg STRONGdesk verdict [Full desk recap →](https://helious.io/news/auc-91282CRF0-2026-09-09/10-year-note-auction-strong) 12-MONTH AVERAGES · 11 AUCTIONS 2.49bid-to-cover 70.75%indirects 19.35%directs 9.91%dealer take Read a new result against these numbers. When cover, indirects and directs come in above the average, that is solid investor demand. An above-average [dealer take](https://helious.io/learn/primary-dealers) means the street absorbed the balance. The shares are percentages of *competitive* accepted, so indirects, directs and dealers add up to 100. ## Recent auction results DATECUSIPISSUEOFFEREDHIGH YIELDTAILB/CINDIRECTSDIRECTSDEALERSDESK RECAP Sep 9, 2026Sep 9 ’26 91282CRF0 Reopen $39B 4.834% -1.5bp 2.71 79.2% 16.5% 4.3% [STRONG →](https://helious.io/news/auc-91282CRF0-2026-09-09/10-year-note-auction-strong) Aug 12, 2026Aug 12 ’26 91282CRF0 New $42B 4.683% +0.1bp 2.53 76.7% 14.7% 8.6% [IN LINE →](https://helious.io/news/auc-91282CRF0-2026-08-12/10-year-note-auction-in-line) Jul 8, 2026Jul 8 ’26 91282CQQ7 Reopen $39B 4.580% -0.6bp 2.59 81.5% 10.7% 7.8% [STRONG →](https://helious.io/news/auc-91282CQQ7-2026-07-08/10-year-note-auction-strong) Jun 10, 2026Jun 10 ’26 91282CQQ7 Reopen $39B 4.538% — 2.57 78.2% 12.3% 9.5% — May 12, 2026May 12 ’26 91282CQQ7 New $42B 4.468% — 2.40 64.0% 24.1% 12.0% — Apr 8, 2026Apr 8 ’26 91282CPZ8 Reopen $39B 4.282% — 2.43 65.3% 23.9% 10.8% — Mar 11, 2026Mar 11 ’26 91282CPZ8 Reopen $39B 4.217% — 2.45 74.5% 12.8% 12.7% — Feb 11, 2026Feb 11 ’26 91282CPZ8 New $42B 4.177% — 2.39 64.5% 22.1% 13.4% — Jan 12, 2026Jan 12 ’26 91282CPJ4 Reopen $39B 4.173% — 2.55 69.6% 24.5% 5.8% — Dec 9, 2025Dec 9 ’25 91282CPJ4 Reopen $39B 4.175% — 2.55 70.2% 21.0% 8.8% — Nov 12, 2025Nov 12 ’25 91282CPJ4 New $42B 4.074% — 2.43 67.0% 22.6% 10.5% — Oct 8, 2025Oct 8 ’25 91282CNT4 Reopen $39B 4.117% — 2.48 66.8% 24.1% 9.1% — The **issue** column says which kind of auction it was. A [reopening](https://helious.io/learn/when-issued-yield) re-auctions a security that already exists, under the same CUSIP, and that is the norm for coupons outside refunding months. "New" sets a fresh coupon. **Offered** is the amount the Treasury announced for sale at that auction. The **tail** is the high yield minus the [when-issued](https://helious.io/learn/when-issued-yield) yield at the bid deadline, in basis points. A positive number means the auction had to concede yield to clear, and a negative one means it stopped through. A dash in that column means no tail exists, or none was captured. Bills never have one, because they price off a discount rate and have no when-issued market. Rows before desk coverage began in July 2026 predate tail capture, and the official records publish no when-issued yield at all. The last column, the **desk recap**, is the desk's live verdict, posted the moment results cross. The desk captures each result and backfills the rest from the full auction record · [download a sample (CSV, recent auctions)](https://helious.io/auctions/10-year-note.csv). The full history comes through the [Helious API](https://helious.io/developers/) and MCP at [api.helious.io/mcp](https://api.helious.io/mcp), with depth set by plan. Read [what a tail means](https://helious.io/learn/auction-tail) · [bid-to-cover explained](https://helious.io/learn/bid-to-cover-ratio) · [who indirect bidders are](https://helious.io/learn/indirect-bidders) · [who direct bidders are](https://helious.io/learn/direct-bidders). ## Auctions already on the schedule AUCTION DATECUSIPAMOUNT Oct 7, 202691282CRF0$39B The amount fills in when the Treasury announces the offering, usually a few days ahead. [Watch the next auction live →](https://helious.io/)