Treasury Note Auction Draws Lowest Bid-to-Cover in Nine Years

A Treasury note auction drew the lowest bid-to-cover ratio in nine years, according to a Reuters commentary dated October 6, 2026. Bid-to-cover measures bids against the amount sold, so the reading means fewer dollars of bids chased each dollar of debt. Notes sold at a 5.033% yield. Thin demand can force higher yields to clear deals.