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Independent research desk
Frameworks by James Lavish / Independent & unaffiliatedData as of Wed 23 Sept 2026, 4:30 pm ET

Treasury supply

Inside the auction

Who is buying, at what yield, and how much demand is showing up? Explore Treasury auction results and compare bidder participation.

All coupons2-Year3-Year5-Year7-Year10-Year20-Year30-Year
2-Year2.30×2.66×23 Apr 2024: 2.66×28 May 2024: 2.41×3-Year2.30×2.66×7 May 2024: 2.63×5-Year2.30×2.66×24 Apr 2024: 2.39×28 May 2024: 2.30×7-Year2.30×2.66×25 Apr 2024: 2.48×29 May 2024: 2.43×10-Year2.30×2.66×8 May 2024: 2.49×20-Year2.30×2.66×22 May 2024: 2.51×30-Year2.30×2.66×9 May 2024: 2.41×
Bid-to-cover per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
2-Year10 %20 %23 Apr 2024: 15 %28 May 2024: 17 %3-Year10 %20 %7 May 2024: 15 %5-Year10 %20 %24 Apr 2024: 15 %28 May 2024: 20 %7-Year10 %20 %25 Apr 2024: 14 %29 May 2024: 17 %10-Year10 %20 %8 May 2024: 16 %20-Year10 %20 %22 May 2024: 10 %30-Year10 %20 %9 May 2024: 15 %
Dealer share per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
Auction results
DateSecuritySizeBid-to-cover12-meanDealersIndirectsHigh yieldTail
6 Jun 20248-Week Bill · reopening$70 B3.23×2.81×36.7 %60.4 %5.265 %not computed
5 Jun 202417-Week Bill$60 B2.79×3.02×43.5 %51.4 %5.225 %not computed
4 Jun 202442-Day Bill · reopening$60 B3.08×2.76×36.9 %57.8 %5.275 %not computed
3 Jun 202413-Week Bill · reopening$70 B2.74×2.81×39.9 %52.9 %5.250 %not computed
3 Jun 202426-Week Bill$70 B2.95×2.91×31.8 %59.2 %5.155 %not computed
30 May 20244-Week Bill · reopening$70 B2.83×2.78×34.8 %58.9 %5.270 %not computed
30 May 20248-Week Bill · reopening$70 B2.94×2.81×30.5 %65.3 %5.275 %not computed
29 May 202417-Week Bill$60 B2.80×3.02×47.3 %47.4 %5.240 %not computed
29 May 20241-Year 11-Month Note (FRN) · reopening$28 B3.40×3.02×35.6 %63.5 %—not computed
29 May 20247-Year Note$44 B2.43×2.48×17.0 %66.9 %4.650 %not computed
28 May 202442-Day Bill · reopening$65 B3.07×2.76×33.0 %60.7 %5.275 %not computed
28 May 202426-Week Bill · reopening$70 B3.06×2.91×29.5 %62.0 %5.170 %not computed
28 May 202413-Week Bill · reopening$70 B2.87×2.81×39.9 %52.3 %5.255 %not computed
28 May 20242-Year Note$69 B2.41×2.80×16.6 %57.9 %4.917 %not computed
28 May 20245-Year Note$70 B2.30×2.36×19.5 %65.0 %4.553 %not computed
23 May 20244-Week Bill · reopening$80 B2.77×2.78×30.2 %66.3 %5.270 %not computed
23 May 20248-Week Bill · reopening$80 B2.63×2.81×43.3 %50.2 %5.275 %not computed
23 May 20249-Year 8-Month Note (TIPS) · reopening$16 B2.33×2.39×14.0 %69.8 %2.184 %not computed
22 May 202417-Week Bill$60 B2.89×3.02×50.6 %40.7 %5.235 %not computed
22 May 202420-Year Bond$16 B2.51×2.47×10.1 %70.8 %4.635 %not computed
21 May 202443-Day Bill · reopening$75 B3.04×3.03×33.5 %61.2 %5.270 %not computed
20 May 202413-Week Bill · reopening$70 B2.89×2.81×36.4 %57.5 %5.245 %not computed
20 May 202426-Week Bill$70 B2.92×2.91×32.1 %62.9 %5.160 %not computed
16 May 20244-Week Bill · reopening$80 B2.73×2.78×35.5 %60.3 %5.270 %not computed
16 May 20248-Week Bill · reopening$80 B2.74×2.81×37.0 %54.6 %5.270 %not computed
15 May 202417-Week Bill$60 B2.98×3.02×47.0 %46.3 %5.235 %not computed
14 May 202442-Day Bill · reopening$75 B2.81×2.76×44.6 %48.0 %5.280 %not computed
14 May 202452-Week Bill$46 B3.00×3.35×28.8 %68.1 %4.895 %not computed
13 May 202413-Week Bill · reopening$70 B2.77×2.81×35.6 %58.3 %5.250 %not computed
13 May 202426-Week Bill$70 B3.02×2.91×31.5 %61.2 %5.165 %not computed
9 May 20244-Week Bill · reopening$80 B2.93×2.78×27.9 %67.1 %5.270 %not computed
9 May 20248-Week Bill · reopening$80 B2.98×2.81×32.5 %59.8 %5.275 %not computed
9 May 202430-Year Bond$25 B2.41×2.43×15.4 %64.9 %4.635 %not computed
8 May 202417-Week Bill$60 B3.04×3.02×45.9 %48.8 %5.240 %not computed
8 May 202410-Year Note$42 B2.49×2.44×15.7 %65.5 %4.483 %not computed
7 May 202442-Day Bill · reopening$75 B2.91×2.76×37.8 %56.5 %5.280 %not computed
7 May 20243-Year Note$58 B2.63×2.65×14.9 %65.5 %4.605 %not computed
6 May 202413-Week Bill · reopening$70 B2.72×2.81×39.0 %53.3 %5.250 %not computed
6 May 202426-Week Bill$70 B2.91×2.91×23.7 %67.7 %5.155 %not computed
2 May 20244-Week Bill · reopening$70 B2.91×2.78×34.4 %60.0 %5.275 %not computed
2 May 20248-Week Bill · reopening$75 B2.99×2.81×32.4 %62.4 %5.270 %not computed
1 May 202417-Week Bill$60 B3.02×3.02×40.4 %54.5 %5.245 %not computed
30 Apr 202442-Day Bill · reopening$65 B3.06×2.76×37.0 %56.6 %5.285 %not computed
29 Apr 202426-Week Bill · reopening$70 B2.98×2.91×28.0 %62.6 %5.165 %not computed
29 Apr 202413-Week Bill · reopening$70 B2.67×2.81×44.1 %47.9 %5.250 %not computed
25 Apr 20244-Week Bill · reopening$70 B3.14×2.78×23.4 %70.7 %5.275 %not computed
25 Apr 20248-Week Bill · reopening$75 B3.02×2.81×28.7 %66.5 %5.275 %not computed
25 Apr 20247-Year Note$44 B2.48×2.48×13.9 %65.1 %4.716 %not computed
24 Apr 202417-Week Bill$60 B2.80×3.02×40.8 %52.7 %5.240 %not computed
24 Apr 20242-Year Note (FRN)$30 B3.33×2.80×36.3 %62.7 %—not computed
24 Apr 20245-Year Note$70 B2.39×2.36×15.0 %65.7 %4.659 %not computed
23 Apr 202442-Day Bill · reopening$65 B2.83×2.76×42.2 %52.1 %5.285 %not computed
23 Apr 20242-Year Note$69 B2.66×2.80×15.1 %66.2 %4.898 %not computed
22 Apr 202413-Week Bill · reopening$70 B2.78×2.81×36.7 %56.7 %5.255 %not computed
22 Apr 202426-Week Bill$70 B2.80×2.91×26.8 %63.6 %5.160 %not computed
18 Apr 20244-Week Bill · reopening$70 B2.90×2.78×28.8 %65.2 %5.280 %not computed
18 Apr 20248-Week Bill · reopening$75 B2.90×2.81×35.5 %58.9 %5.275 %not computed
18 Apr 20245-Year Note (TIPS)$23 B2.58×2.36×3.9 %78.3 %2.242 %not computed
17 Apr 202417-Week Bill$60 B2.81×3.02×52.3 %38.7 %5.240 %not computed
17 Apr 202419-Year 10-Month Bond · reopening$13 B2.82×2.69×9.1 %74.7 %4.818 %not computed

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* entered by the editor from a press source with a citation. JSON