WASHINGTON / RankWire.AI / – Next week, the U.S. Treasury Department plans to distribute $119 billion through three separate auctions of notes and bonds. Kicking off on Oct. 6, the schedule includes $58 billion of three-year notes. The following day, Oct. 7, will see the sale of $39 billion of 10-year notes. The sequence concludes on Oct. 8 with $22 billion of 30-year bonds. These offerings align with Treasury’s standard financing calendar and correspond to the auction sizes detailed in its latest quarterly refunding schedule.
The three-year note, a new issuance, will mature on Oct. 15, 2029. Meanwhile, Treasury will reopen an existing 4.625% note for the 10-year auction, which matures on Aug. 15, 2036. The 30-year bond will also be reopened; it is a 5.125% security maturing on Aug. 15, 2056. Reopening an existing security increases the total outstanding amount while maintaining the original coupon rate and maturity date. Investors have the option to submit either competitive or noncompetitive bids through Treasury’s usual auction process.
All three securities are scheduled to settle on Oct. 15, according to the published schedule by the U.S. Treasury Department. In competitive bidding, investors specify the yield they are willing to accept. Noncompetitive bidders agree to accept the yield determined during the auction. Treasury discloses the final pricing and bidding results after each sale, including the high yield, accepted bids, and allotment details. These notes and bonds pay fixed interest and constitute a significant portion of the federal marketable debt.
Three consecutive debt offerings lined up by Treasury
The upcoming October auctions follow the September sales of the same 10-year and 30-year securities. On Sept. 9, Treasury sold $39 billion of the 10-year note, which yielded a high of 4.834%. The auction drew approximately $105.8 billion in bids, resulting in a bid-to-cover ratio of 2.71. This security carries a 4.625% coupon and matures in August 2036. The October reopening will add another $39 billion to the amount already outstanding of this note.
Similarly, on Sept. 10, Treasury sold $22 billion of the 30-year bond, which had a high yield of 5.308%. Investors submitted about $57.5 billion in bids, leading to a bid-to-cover ratio of 2.61. The bond features a 5.125% coupon and matures in August 2056. The October auction will see an additional $22 billion of this security. Final yield, price, accepted bids, and allotment figures will be published after the sale concludes on Thursday.
The auction sizes align with October’s borrowing strategy
These auctions are part of a broader borrowing plan for the last quarter of 2026, with Treasury estimating $628 billion of net marketable borrowing from October through December. This projection assumes a cash balance of $850 billion at the end of December. The federal government funds marketable debt through regular sales of bills, notes, bonds, and other securities. Treasury manages issuance across maturities through its established financing procedures, providing auction schedules and borrowing estimates for investors.
The total of $119 billion matches the amounts outlined in Treasury’s August financing plan for October, which included $58 billion of three-year notes, $39 billion of 10-year notes, and $22 billion of 30-year bonds. The sequence begins with the three-year auction on Tuesday, followed by the 10-year sale on Wednesday, and the 30-year sale on Thursday. Official results—detailing pricing, yields, and demand—will be released after each auction, highlighting next week’s three government debt offerings.