The US Treasury’s five-year note auction drew average demand on October 27, 2026, as the government sold $70 billion in securities at a high yield of 4.845%.

Five-year note auction demand

The auction drew a bid-to-cover ratio of 2.33, just above the 2.32 average for the previous 10 five-year note auctions. The ratio measures bids received for each dollar of securities offered, meaning the latest sale attracted $2.33 in bids for every $1 available.

In September, the Treasury also sold $70 billion in five-year notes. That auction drew a high yield of 5.033% and a bid-to-cover ratio of 2.21.

Seven-year sale results due Thursday

The five-year sale followed a $69 billion two-year note auction on October 26 that the Treasury said attracted slightly below-average demand.

The Treasury is scheduled to announce the results of its $44 billion seven-year note sale on Thursday, October 29.

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