---
source: U.S. Department of the Treasury
url: https://treasurydirect.gov/instit/annceresult/press/preanre/2026/R_20260408_2.pdf
document_type: pdf
date_retrieved: 2026-04-08T17:21:00Z
period: April 08, 2026
parent_publication: Treasury Auction Results
indicators_covered: ["10-Year Note Auction", "High Yield", "Bid-to-Cover Ratio"]
---

# Treasury Auction Results — 9-Year 10-Month Note

April 08, 2026

## Security Details

| Field | Value |
|-------|-------|
| Term and Type | 9-Year 10-Month Note |
| CUSIP | 91282CPZ8 |
| Series | B-2036 |
| Interest Rate | 4-1/8% |
| High Yield | 4.282% |
| Allotted at High | 38.89% |
| Price | 98.740656 |
| Accrued Interest per $1,000 | $6.72307 |
| Median Yield | 4.230% |
| Low Yield | 4.120% |

## Issue Schedule

| Field | Date |
|-------|------|
| Issue Date | April 15, 2026 |
| Maturity Date | February 15, 2036 |
| Original Issue Date | February 17, 2026 |
| Dated Date | February 15, 2026 |

## Auction Summary

| Category | Tendered | Accepted |
|----------|----------|----------|
| Competitive | $94,637,801,000 | $38,921,968,500 |
| Noncompetitive | $78,033,800 | $78,033,800 |
| FIMA (Noncompetitive) | $0 | $0 |
| **Subtotal** | **$94,715,834,800** | **$39,000,002,300** |
| SOMA | $6,916,045,100 | $6,916,045,100 |
| **Total** | **$101,631,879,900** | **$45,916,047,400** |

## Competitive Bidding Breakdown

| Bidder Type | Tendered | Accepted |
|--------------|----------|----------|
| Primary Dealer | $51,266,000,000 | $4,202,167,500 |
| Direct Bidder | $11,291,000,000 | $9,295,000,000 |
| Indirect Bidder | $32,080,801,000 | $25,424,801,000 |
| **Total Competitive** | **$94,637,801,000** | **$38,921,968,500** |

## Notes

- **All tenders at lower yields were accepted in full.**
- **50% of the amount of accepted competitive tenders was tendered at or below that yield.**
- **5% of the amount of accepted competitive tenders was tendered at or below that yield.**
- **Bid-to-Cover Ratio:** $94,715,834,800 ÷ $39,000,002,300 = **2.43**
- **Awards to Treasury Retail:** $35,027,600.
- For descriptions of these terms, see the [Auction FAQs](https://www.treasurydirect.gov/help-center/faqs/auction-faqs/).