US 3-Year Note auction: 4.932% high yield, 2.62x bid-to-cover

1 SOURCE CONFIRMED · FIRST SEEN 2026-10-06 17:30 UTC

KINDRates

DIRECTION▼ Bearish

SOURCES1

ENTITIES1

STORY SIZESTANDALONE

FIRST SEEN2026-10-06 17:30 UTC

LAST UPDATE2026-10-06 17:30 UTC

STATEactive

01 THE MACHINE READ

WHY IT MATTERS.

Weak 3-year auction with high yield 4.932% and 2.62x cover signals soft demand, pressuring the front end and duration.

Soft 3Y demand lifts yields across the curve

CATALYST TO WATCH

Next 10Y and 30Y auctions

MAIN RISK

Demand could rebound at longer tenors

FULL DISPATCH

US Treasury 3-Year Note auction (CUSIP 91282CRQ6, auctioned 2026-10-06): offering $58.0B; accepted $59.4B; high yield 4.932%; bid-to-cover 2.62x; +5.2bp vs average; WEAK AUCTION; dealers 10.7%; indirect 57.6%; direct 31.7%; SOMA add $1.38B.

02 THE STORY SO FAR

THE RECORD, IN ORDER.

STANDALONE ITEM — NOT YET FOLDED INTO A DEVELOPING STORY.

03 WHO'S INVOLVED

ENTITIES ON FILE.

AFFECTED20Y+ Treasury ETF · TLT

04 RECEIPTS

THE SOURCE RECORD.

1 SOURCES CONFIRMED

№ 01treasuryapi.fiscaldata.treasury.gov · PRIMARY2026-10-06 17:30 UTCOPEN RECEIPT →

05 PROPAGATION

WHAT THIS TOUCHES.

→TENDENCYrate move transmits to risk assets
Dogecoin +3.5%2026-10-04 21:10 UTC

→TENDENCYrate move transmits to risk assets
Silver (COMEX) +2.2%2026-10-06 00:13 UTC

→TENDENCYrate move transmits to risk assets
Copper (COMEX) +2.3%2026-10-06 00:13 UTC

→TENDENCYrate move transmits to risk assets
Nasdaq Composite +1.1%2026-10-06 00:13 UTC

→TENDENCYrate move transmits to risk assets
VIX Volatility Index +1.4%2026-10-06 00:13 UTC

→TENDENCYrate move transmits to risk assets
10Y Treasury Yield +0.6%2026-10-06 00:13 UTC

KEEP READING THE MACHINE

OPEN THE MACHINE →THE PREDICTION LEDGER →

Summaries are generated and may contain errors — every claim links its sources.