US 7-Year Note auction: 5.085% high yield, 2.42x bid-to-cover
Why now
Thesis: Soft demand at long end lifts term premium
Catalyst to watch: Next long-end auction and dealer take-up
Main risk: Yields spike further, hurting rate-sensitive assets
Why it matters
Weak 7Y auction at 5.085% with 2.42x cover and +6.6bp tail signals soft demand, pressuring long-end yields and duration assets.
Details
US Treasury 7-Year Note auction (CUSIP 91282CRM5, auctioned 2026-09-24): offering $44.0B; accepted $50.6B; high yield 5.085%; bid-to-cover 2.42x; +6.6bp vs average; WEAK AUCTION; dealers 12.5%; indirect 57.2%; direct 30.3%; SOMA add $6.62B.
Sources
- treasury · api.fiscaldata.treasury.gov · 2026-09-24 17:21 UTC