Reopening
20-Year Treasury Bond auction result for July 22, 2026
The 20-Year Treasury Bond reopening held on July 22, 2026 recorded an official high rate of 5.163% and a bid-to-cover ratio of 2.64. Bid-to-cover decreased from 2.75 at the preceding comparable auction.
High yield
5.163%
Bid-to-cover
2.64
Direct bidders
16.1%
Primary dealers
14.5%
Comparable historical context
| Auction date | Series | Result | Bid-to-cover | Offering | Direct | Indirect | Dealers |
|---|---|---|---|---|---|---|---|
| 2026-07-22 | 19Y Bond · reopening | High yield: 5.163% | 2.64 | $13.0B | 16.1% | 68.5% | 14.5% |
| 2026-06-16 | 19Y Bond · reopening | High yield: 4.927% | 2.75 | $13.0B | 19.8% | 71.2% | 8.4% |