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# Guides — How to Read the Rates Market

    Step-by-step, trader-grade explainers built on the desk's live data. Not definitions
    (those live in [Learn](https://helious.io/learn)) — these show you how to actually read a
    print, an auction, or the curve, with worked examples off real numbers.


    [

        How to Read a Treasury Auction Result
        Tail vs stop-through, bid-to-cover, and the bidder split — read any auction in 60 seconds, with a live worked example.

    ](https://helious.io/guides/how-to-read-a-treasury-auction)

    [

        How to Read an Economic Release
        Actual vs forecast vs prior, the sigma surprise, and how the miss actually moves the curve.

    ](https://helious.io/guides/how-to-read-an-economic-release)

    [

        How to Read the Yield Curve: 2s10s, Steepeners vs Flatteners
        2s10s, bull vs bear, steepen vs flatten: read any curve move in seconds, with the four-quadrant regime map every rates desk keeps in its head.

    ](https://helious.io/guides/how-to-read-the-yield-curve)

    [

        How to Read the FOMC Statement and Dot Plot
        The statement-diff method, the median dot, and the SEP: how to read an FOMC decision and trade the surprise against what's already priced.

    ](https://helious.io/guides/how-to-read-the-fomc-statement-and-dot-plot)

    [

        How to Read When-Issued (WI) Trading
        The grey market that prices every Treasury before it's auctioned: read the when-issued concession, know the exact mark the tail is struck against, and read the auction before the results hit.

    ](https://helious.io/guides/how-to-read-when-issued-trading)

    [

        How to Trade the Quarterly Refunding Announcement (QRA)
        The QRA is a duration-supply event: read the coupon sizes, the bill-vs-coupon mix, and the term-premium impact. Then trade the delta from consensus, 4x a year.

    ](https://helious.io/guides/how-to-trade-the-quarterly-refunding-announcement)





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