The yield on the 3-year U.S. Treasury bond auction hits its highest level since June last year.

金色财经_ · 2026-04-08T03:08:34+00:00

On April 8th, the U.S. Department of the Treasury issued $58 billion in 3-year Treasury bonds, with a winning yield of 3.897%, below the pre-auction level but the highest since last year. The auction results showed strong demand, with indirect bidders receiving the highest allocation, while direct bidders dropped to the lowest level. The yield curve continued to steepen.

金色财经_

2026-04-08 03:08:34

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Golden Finance reports that on April 8, the U.S. Treasury’s auction of $58.0 billion in 3-year notes had a winning yield of 3.897%, below the pre-auction trading level of 3.909% at the 1:00 p.m. New York time deadline for bids, indicating demand exceeded expectations. However, the winning yield is still the highest for notes of the same maturity since June last year. After the auction results were released, short-dated notes remained steady, holding roughly the day’s modest decline, with the yield on 3-year notes rising by about 1 basis point. The yield curve also remained stable, continuing to show a steepening trend. Primary dealers were allocated 13.3%, lower than the previous time; indirect bidders’ allocation jumped to 74.8%, the highest level since September 2024. Direct bidders’ allocation fell to 11.9%, the lowest in a year. The bid-to-cover ratio was 2.68 times, versus an average of 2.66 times over the first six auctions.

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