WASHINGTON / RankWire.AI / – The U.S. Treasury Department has scheduled three separate auctions for a total of $119 billion in notes and bonds next week. The series kicks off on Oct. 6 with the sale of $58 billion worth of three-year notes. The following day, Treasury will offer $39 billion of 10-year notes, and on Oct. 8, it will conclude with the auction of $22 billion of 30-year bonds. These offerings are in line with the Treasury’s regular financing calendar and correspond to the sizes outlined in its latest quarterly refunding schedule.
The new issue of three-year notes will mature on Oct. 15, 2029. For the 10-year note auction, Treasury plans to reopen an existing security with a 4.625% coupon, which matures on Aug. 15, 2036. The 30-year bond sale will also reopen an existing issue, a 5.125% security maturing on Aug. 15, 2056. Reopening securities involves increasing the amount outstanding while keeping their original coupon rate and maturity date intact. Bidders can submit either competitive or noncompetitive bids according to the standard auction procedures used by the Treasury.
All three securities are scheduled to settle on Oct. 15, as per the schedule published by the U.S. Treasury Department. In competitive bidding, participants specify the yield they are willing to accept, whereas noncompetitive bidders agree to accept the final yield determined at auction. After each sale, the Treasury releases detailed results, including the high yield, the accepted bids, and the allocation data. Treasury notes and bonds provide fixed interest payments and are a key component of the federal marketable debt portfolio.
Next week’s debt sales follow a series of recent auctions
The upcoming auctions come after September’s offerings of the same 10-year and 30-year securities. On Sept. 9, Treasury sold $39 billion of the 10-year note, which yielded a high of 4.834% and drew approximately $105.8 billion in bids, resulting in a bid-to-cover ratio of 2.71. This security carries a 4.625% coupon and matures in August 2036. The October reopening of this note will add another $39 billion to the total amount outstanding for this security.
Additionally, on Sept. 10, Treasury auctioned $22 billion of the 30-year bond, which had a high yield of 5.308%. Investors placed bids totaling around $57.5 billion, creating a bid-to-cover ratio of 2.61. This bond features a 5.125% coupon and matures in August 2056. The upcoming October auction will include an additional $22 billion of this security. The final yield, price, bid acceptance, and allocation data will be published once the sale concludes on Thursday.
The size of next week’s auctions aligns with the October financing plan
These auctions are part of a broader borrowing strategy for the last quarter of 2026. The Treasury estimates that $628 billion of net marketable borrowing will be needed from October through December, based on an assumed cash balance of $850 billion at year’s end. The government raises funds through regular issuance of bills, notes, bonds, and other securities, adjusting the maturity profile as needed through its established financing process, while providing detailed auction schedules and borrowing forecasts to investors.
The total of $119 billion in next week’s auctions matches the figures outlined in the Treasury’s August financing schedule, which projected $58 billion for three-year notes, $39 billion for 10-year notes, and $22 billion for 30-year bonds. The three-year note auction will commence the series on Tuesday, with the 10-year sale following on Wednesday, and the 30-year bond auction wrapping up on Thursday. The Treasury will publish official results after each auction, including pricing, yields, and demand metrics associated with the upcoming week’s debt offerings.
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