---
title: "30-Year TIPS Auction Results: Aug 20, 2026"
description: "30-Year TIPS, Aug 20, 2026: 2.973% high yield, 1.8bp through, 2.82x cover, indirects 84.4%. Full bidder split, tails and 12-month averages."
source: Helious
canonical: "https://helious.io/auctions/30-year-tips"
---

# 30-Year TIPS Auction: Results, Schedule & History



    High yield
    2.973%
    Aug 20, 2026

    Tail
    -1.8bp
    stopped through

    Bid to cover
    2.82


    Indirects
    84.4%



    [Ask Helious about the 30-Year TIPS auction](https://helious.io/?ask=How%20did%20the%20last%2030-Year%20TIPS%20auction%20go%20and%20what%20does%20the%20tail%20say%3F&from=/auctions/30-year-tips)



      High yield, last 8 auctions



    2.973%2.261%1.550%



  2023-02-162026-08-20



    Human
    Agent

      Last result · Aug 20, 2026
      2.973%

        tail -1.8bp ·
        b/c 2.82
         · indirects 84.4%
        STRONG

  {
  "tenor": "30-year-tips",
  "date": "2026-08-20",
  "offering_usd": 8000000000,
  "high_yield": 2.973,
  "tail_bps": -1.8,
  "bid_to_cover": 2.82,
  "indirect_pct": 84.4,
  "verdict": "STRONG"
}


    The 30-Year TIPS auction on Aug 20, 2026 put $8B on offer and stopped at a high yield of 2.973%, 1.8bp through the when-issued yield. The bid-to-cover was 2.82. Indirects took 84.4%, directs 13.4% and primary dealers 2.1%. Helious captured the result live as it crossed and graded it STRONG.

    There are only two of these a year, which makes the 30-year TIPS the rarest Treasury sale going and the most volatile. It is one of the few looks you get at where inflation is priced a generation out, and at real yields that far along. Most of the bidding comes from pension LDI desks, the ones matching assets to very long liabilities. Supply is tiny, so a single result can knock long-end breakevens and real yields around by far more than the size of the sale would suggest.



      NEXT AUCTION
      Auctioned twice yearly: new issue february, reopening august (typically thursday); results cross ~13:00 ET.



      LATEST RESULT: AUG 20, 2026

        2.973%high yield
        $8Bon offer
        2.82bid-to-cover
        84.4%indirects
        13.4%directs
        2.1%dealer take
        STRONGdesk verdict

      [Full desk recap →](https://helious.io/news/auc-912810US5-2026-08-20/30-year-tips-auction-strong)



      12-MONTH AVERAGES · 1 AUCTIONS







        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


      Aug 20, 2026Aug 20 ’26
      912810US5
      Reopen
      $8B
      2.973%
      -1.8bp
      2.82
      84.4%
      13.4%
      2.1%
      [STRONG →](https://helious.io/news/auc-912810US5-2026-08-20/30-year-tips-auction-strong)



      Feb 19, 2026Feb 19 ’26
      912810US5
      New
      $9B
      2.473%
      —
      2.75
      78.3%
      19.2%
      2.5%
      —



      Aug 21, 2025Aug 21 ’25
      912810UH9
      Reopen
      $8B
      2.650%
      —
      2.78
      70.4%
      25.1%
      4.5%
      —



      Feb 20, 2025Feb 20 ’25
      912810UH9
      New
      $9B
      2.403%
      —
      2.48
      77.5%
      15.3%
      7.2%
      —



      Aug 22, 2024Aug 22 ’24
      912810TY4
      Reopen
      $8B
      2.055%
      —
      2.61
      77.6%
      15.6%
      6.9%
      —



      Feb 22, 2024Feb 22 ’24
      912810TY4
      New
      $9B
      2.200%
      —
      2.43
      73.4%
      17.6%
      9.0%
      —



      Aug 24, 2023Aug 24 ’23
      912810TP3
      Reopen
      $8B
      1.970%
      —
      2.42
      76.2%
      19.6%
      4.3%
      —



      Feb 16, 2023Feb 16 ’23
      912810TP3
      New
      $9B
      1.550%
      —
      2.38
      76.0%
      14.1%
      9.9%
      —



      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/30-year-tips.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).





    [Watch the next auction live →](https://helious.io/)