WASHINGTON / RankWire.AI / – U.S. Treasury Department is set to conduct three debt auctions totaling $119 billion in notes and bonds during the upcoming week. The process begins on Oct. 6 with a $58 billion offering of three-year notes. On Oct. 7, the Treasury plans to sell $39 billion worth of 10-year notes. The series will conclude on Oct. 8 with a $22 billion sale of 30-year bonds. These offerings align with Treasury’s regular financing schedule and correspond to the auction sizes outlined in its latest quarterly refunding plan.
The three-year note issued will be a new security and will mature on Oct. 15, 2029. Meanwhile, the 10-year note auction will see an existing 4.625% security reopened; this note matures on Aug. 15, 2036. The 30-year bonds will also be reopened, specifically a 5.125% bond maturing on Aug. 15, 2056. Reopening an existing security involves increasing the total amount outstanding while maintaining the original coupon rate and maturity date. Investors may submit either competitive or noncompetitive bids through the standard auction process established by the Treasury.
All three securities are scheduled to settle on Oct. 15, according to the schedule published by the U.S. Treasury Department. In a competitive bid, investors specify the yield they are willing to accept, while noncompetitive bidders agree to accept the yield determined during the auction. After each sale concludes, the Treasury releases detailed results, including the final yield, pricing, and the bids accepted. Treasury notes and bonds pay fixed interest and constitute a significant part of the federal marketable debt portfolio.
Treasury prepares for three consecutive debt offerings
These October auctions follow similar ones held in September for the same 10-year and 30-year securities. On September 9, the Treasury sold $39 billion of the 10-year note, which yielded a high of 4.834%. The auction attracted approximately $105.8 billion in bids, resulting in a bid-to-cover ratio of 2.71. The note features a 4.625% coupon rate and matures in August 2036. The October reopening will add another $39 billion of this security to the existing outstanding amount.
Similarly, on September 10, the Treasury sold $22 billion of the 30-year bond, which produced a high yield of 5.308%. Investors placed bids totaling around $57.5 billion, leading to a bid-to-cover ratio of 2.61. This bond carries a 5.125% coupon and matures in August 2056. The upcoming auction will add $22 billion more of this security. Final yield, price, accepted bids, and allotment details will be published after the sale closes on Thursday.
The scheduled sizes reflect October’s borrowing plan
These auctions are part of a broader borrowing strategy for the last quarter of 2026. The Treasury projected $628 billion in net marketable borrowing for October through December, based on an assumed year-end cash balance of $850 billion. The federal government funds its marketable debt through routine sales of bills, notes, bonds, and other securities. Throughout the year, the Treasury manages issuance across different maturities through its established financing process, providing regular auction schedules and borrowing estimates for investors.
The total of $119 billion matches the amounts listed in the Treasury’s August financing plan for October. That plan called for $58 billion of three-year notes, $39 billion of 10-year notes, and $22 billion of 30-year bonds. The series will begin with the three-year note auction on Tuesday, followed by the 10-year sale on Wednesday and the 30-year auction on Thursday. The Treasury will publish the official results, including pricing, yields, and demand data, after each auction, detailing next week’s three U.S. government debt offerings.