The U.S. Treasury Department's auction of $42 billion in 10-year notes resulted in a high yield of 4.177%, exceeding the pre-issuance trading level of 4.163% at the 1 p.m. Eastern Time bid deadline.
The high yield of 4.177% compares to the previous auction's result of 4.173%.
The bid-to-cover ratio was 2.39, down from 2.55 in the prior auction.
Primary dealers were allotted 13.4% of the issue, a significant increase from the previous 5.8%.
Direct bidders received 22.1%, compared to 24.5% last time.
Indirect bidders were allotted 64.5%, down from 69.6% previously.
Issue date: February 17, 2026; Maturity date: February 15, 2036.
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