---
title: The US just sold $70 billion of 5-year Treasuries.
description: "The Bid-to-Cover ratio was 2.36. Foreign buyers pulled back but US buyers stepped up in record size. Here's the breakdown: \n• Foreign accounts (called “Indirects”) bought 60.5%.\n• Domestic institutions (called “Directs”) bought a record 30.7%.\n• Dealers (big banks) bought only 8.8%, the lowest ever.\n\nNow here’s the twist: even though the auction was definitely a poor one, the bond market rallied afterwards. 10-year Treasury yields actually dropped.\nWhy? Because traders were braced for worse. “Not awful” was good enough to spark a rally.\n\nSource: StockMarket.news"
---

[Syz The Moment](https://blog.syzgroup.com/syz-the-moment)

# [The US just sold $70 billion of 5-year Treasuries.](https://blog.syzgroup.com/syz-the-moment/the-us-just-sold-70-billion-of-5-year-treasuries)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Aug 28, 2025, 1:47:10 PM

[View full post](https://blog.syzgroup.com/syz-the-moment/the-us-just-sold-70-billion-of-5-year-treasuries)

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