Treasury Note Auction Posts 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 compares bids with the amount sold, so fewer dollars of bids chased each dollar of debt. The notes sold at a 5.033% yield. Thin demand can force yields higher to clear deals.