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U.S. Pays Highest Borrowing Costs for 10-Year Notes Since 2000

Provided by Dow Jones Oct 7, 2026, 5:41:00 PM

By Paulo Trevisani

The U.S. Treasury auctioned $39 billion in 10-year notes Wednesday as investors demand high compensation for long-term risk.

The notes sold at a yield of 5.300%, the highest since an auction held in November 2000, which had a high yield of 5.865%.

Demand indicators were robust. The bid-to-cover ratio was 2.77, up from a six-month average of 2.54.

The auction cleared at a lower cost than the 5.318% when-issued yield at the time of the tender.

Indirect bidders, a group that includes foreign investors, acquired 80.3% of the offer, after averaging 74.1% in the previous six months.

The on-the-run 10-year yield dropped to 5.273% from 5.316% following the auction. It had traded as high as 5.361% earlier in the day.

Write to Paulo Trevisani at paulo.trevisani@wsj.com.

(END) Dow Jones Newswires

October 07, 2026 13:41 ET (17:41 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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