The 20-Year Bond Auction is a long-term debt issuance by the U.S. Treasury, reintroduced to help manage the maturity profile of national debt. These bonds are particularly sensitive to long-term inflation expectations and are favored by insurance companies and pension funds for duration matching. The auction results provide a clear signal of long-term investor confidence in the economy.
The Treasury determines the yield through a competitive bidding process where the highest yield required to sell the entire issue becomes the 'stop-out' rate for all successful bidders.
| Date | Actual | Forecast | Surprise |
|---|---|---|---|
| Aug 19, 2026 | 5.20 | — | — |
| Jul 22, 2026 | 5.16 | — | — |
| Jun 16, 2026 | 4.93 | — | — |
| May 20, 2026 | 5.12 | — | — |
| Apr 22, 2026 | 4.88 | — | — |
| Mar 17, 2026 | 4.82 | — | — |
| Feb 18, 2026 | 4.66 | — | — |
| Jan 21, 2026 | 4.85 | — | — |
| Dec 17, 2025 | 4.80 | — | — |
| Nov 19, 2025 | 4.71 | — | — |
| Oct 22, 2025 | 4.51 | — | — |
| Sep 16, 2025 | 4.61 | — | — |
| Aug 20, 2025 | 4.88 | — | — |
| Jul 23, 2025 | 4.93 | — | — |
| Jun 16, 2025 | 4.94 | — | — |
| May 21, 2025 | 5.05 | — | — |
| Apr 16, 2025 | 4.81 | — | — |
| Mar 18, 2025 | 4.63 | — | — |
| Feb 19, 2025 | 4.83 | — | — |
| Jan 22, 2025 | 4.90 | — | — |
| Dec 17, 2024 | 4.69 | — | — |
| Nov 20, 2024 | 4.68 | — | — |
| Oct 23, 2024 | 4.59 | — | — |
| Sep 17, 2024 | 4.04 | — | — |
| Aug 21, 2024 | 4.16 | — | — |
| Jul 17, 2024 | 4.47 | — | — |
| Jun 18, 2024 | 4.45 | — | — |
| May 22, 2024 | 4.63 | — | — |
| Apr 17, 2024 | 4.82 | — | — |
| Mar 19, 2024 | 4.54 | — | — |
| Feb 21, 2024 | 4.59 | — | — |
| Jan 17, 2024 | 4.42 | — | — |
| Dec 20, 2023 | 4.21 | — | — |
| Nov 20, 2023 | 4.78 | — | — |
| Oct 18, 2023 | 5.25 | — | — |
| Sep 19, 2023 | 4.59 | — | — |
| Aug 23, 2023 | 4.50 | — | — |
| Jul 19, 2023 | 4.04 | — | — |
| Jun 21, 2023 | 4.01 | — | — |
| May 17, 2023 | 3.95 | — | — |
| Apr 19, 2023 | 3.92 | — | — |
| Mar 21, 2023 | 3.91 | — | — |
| Feb 15, 2023 | 3.98 | — | — |
| Jan 18, 2023 | 3.68 | — | — |
| Dec 21, 2022 | 3.94 | — | — |
| Nov 16, 2022 | 4.07 | — | — |
| Oct 19, 2022 | 4.39 | — | — |
| Sep 20, 2022 | 3.82 | — | — |
| Aug 17, 2022 | 3.38 | — | — |
| Jul 20, 2022 | 3.42 | — | — |
