Auction result
10-Year Treasury Note auction result for May 6, 2025
The 10-Year Treasury Note held on May 6, 2025 recorded an official high rate of 4.342% and a bid-to-cover ratio of 2.60. Bid-to-cover decreased from 2.67 at the preceding comparable auction.
High yield
4.342%
Bid-to-cover
2.60
Direct bidders
14.6%
Primary dealers
6.6%
Comparable historical context
| Auction date | Series | Result | Bid-to-cover | Offering | Direct | Indirect | Dealers |
|---|---|---|---|---|---|---|---|
| 2025-05-06 | 10Y Note | High yield: 4.342% | 2.60 | $42.0B | 14.6% | 52.4% | 6.6% |
| 2025-04-09 | 9Y Note · reopening | High yield: 4.435% | 2.67 | $39.0B | 1.2% | 75.1% | 9.1% |
| 2025-03-12 | 9Y Note · reopening | High yield: 4.310% | 2.59 | $39.0B | 19.1% | 66.1% | 12.8% |
| 2025-02-12 | 10Y Note | High yield: 4.632% | 2.48 | $42.0B | 10.6% | 55.8% | 11.6% |
| 2025-01-07 | 9Y Note · reopening | High yield: 4.680% | 2.53 | $39.0B | 18.8% | 50.2% | 12.8% |
| 2024-12-11 | 9Y Note · reopening | High yield: 4.235% | 2.70 | $39.0B | 19.3% | 69.4% | 10.4% |
| 2024-11-05 | 10Y Note | High yield: 4.347% | 2.58 | $42.0B | 18.9% | 49.4% | 11.8% |
| 2024-10-09 | 9Y Note · reopening | High yield: 4.066% | 2.48 | $39.0B | 8.3% | 76.4% | 13.7% |
| 2024-09-11 | 9Y Note · reopening | High yield: 3.648% | 2.64 | $39.0B | 13.6% | 75.2% | 10.1% |
| 2024-08-07 | 10Y Note | High yield: 3.960% | 2.32 | $42.0B | 13.4% | 55.4% | 15.0% |
| 2024-07-10 | 9Y Note · reopening | High yield: 4.276% | 2.58 | $39.0B | 17.9% | 58.1% | 9.9% |
| 2024-06-11 | 9Y Note · reopening | High yield: 4.438% | 2.67 | $39.0B | 13.4% | 72.1% | 11.2% |
| 2024-05-08 | 10Y Note | High yield: 4.483% | 2.49 | $42.0B | 16.6% | 58.0% | 13.9% |
| 2024-04-10 | 9Y Note · reopening | High yield: 4.560% | 2.34 | $39.0B | 14.0% | 60.7% | 23.5% |
| 2024-03-12 | 9Y Note · reopening | High yield: 4.166% | 2.51 | $39.0B | 18.6% | 64.2% | 17.0% |
| 2024-02-07 | 10Y Note | High yield: 4.093% | 2.56 | $42.0B | 14.9% | 65.8% | 12.0% |
| 2024-01-10 | 9Y Note · reopening | High yield: 4.024% | 2.56 | $37.0B | 18.7% | 66.0% | 15.1% |
| 2023-12-11 | 9Y Note · reopening | High yield: 4.296% | 2.53 | $37.0B | 18.8% | 63.6% | 17.3% |
| 2023-11-08 | 10Y Note | High yield: 4.519% | 2.45 | $40.0B | 14.8% | 68.0% | 14.7% |
| 2023-10-11 | 9Y Note · reopening | High yield: 4.610% | 2.50 | $35.0B | 20.9% | 60.2% | 18.7% |
| 2023-09-12 | 9Y Note · reopening | High yield: 4.289% | 2.52 | $35.0B | 19.9% | 66.2% | 13.7% |
| 2023-08-09 | 10Y Note | High yield: 3.999% | 2.56 | $38.0B | 13.3% | 52.4% | 6.9% |
| 2023-07-12 | 9Y Note · reopening | High yield: 3.857% | 2.53 | $32.0B | 19.8% | 67.7% | 12.4% |
| 2023-06-12 | 9Y Note · reopening | High yield: 3.791% | 2.36 | $32.0B | 19.9% | 62.2% | 17.8% |