US Treasury Auction Results ·December 2025
Strongest demand was for the 20-year bond at 2.67 times covered; the 30-year bond drew the least at 2.36 times
Every 10-year note, 20-year bond and 30-year bond auction Treasury held in December 2025: the interest rate each one set, how many times it was covered, and how much of it foreign and other indirect bidders took.
Auctions in December 2025
TreasuryDirect, as of 2025-12-17| Auction date | Security | High yield | Coupon | Bid-to-cover | vs prior | Indirect share |
|---|---|---|---|---|---|---|
| December 9, 2025 | 10-Year Note | 4.175% | 4.000% | 2.55 | +0.12 | 70.2% |
| December 11, 2025 | 30-Year Bond | 4.773% | 4.625% | 2.36 | +0.07 | 65.4% |
| December 17, 2025 | 20-Year Bond | 4.798% | 4.625% | 2.67 | +0.26 | 65.2% |
Bid-to-cover is the dollar amount bid divided by the amount sold; higher means stronger demand. "vs prior" compares each auction with the same security's previous auction, which may fall in an earlier month. Indirect share is indirect bidders' accepted amount over all competitive accepted, a gauge of foreign demand.
Data source
Figures are the official auction results published by TreasuryDirect (U.S. Department of the Treasury): the high yield, coupon, bid-to-cover ratio, and competitive and indirect-bidder amounts for each auction.