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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-Year2.31×2.67×23 Jan 2024: 2.57×26 Feb 2024: 2.49×3-Year2.31×2.67×9 Jan 2024: 2.67×6 Feb 2024: 2.58×5-Year2.31×2.67×24 Jan 2024: 2.31×26 Feb 2024: 2.41×7-Year2.31×2.67×25 Jan 2024: 2.57×10-Year2.31×2.67×7 Feb 2024: 2.56×20-Year2.31×2.67×21 Feb 2024: 2.39×30-Year2.31×2.67×8 Feb 2024: 2.40×
Bid-to-cover per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
2-Year13 %21 %23 Jan 2024: 15 %26 Feb 2024: 15 %3-Year13 %21 %9 Jan 2024: 18 %6 Feb 2024: 16 %5-Year13 %21 %24 Jan 2024: 20 %26 Feb 2024: 17 %7-Year13 %21 %25 Jan 2024: 14 %10-Year13 %21 %7 Feb 2024: 13 %20-Year13 %21 %21 Feb 2024: 21 %30-Year13 %21 %8 Feb 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
26 Feb 20242-Year Note$63 B2.49×2.80×14.7 %65.2 %4.691 %not computed
26 Feb 20245-Year Note$64 B2.41×2.36×16.8 %63.5 %4.320 %not computed
22 Feb 20244-Week Bill · reopening$95 B2.80×2.78×29.8 %67.1 %5.285 %not computed
22 Feb 20248-Week Bill · reopening$90 B2.78×2.81×42.6 %54.4 %5.275 %not computed
22 Feb 202430-Year Bond (TIPS)$9 B2.43×2.43×9.0 %73.4 %2.200 %not computed
21 Feb 202417-Week Bill$60 B2.97×3.02×34.8 %60.6 %5.215 %not computed
21 Feb 202420-Year Bond$16 B2.39×2.47×21.2 %59.1 %4.595 %not computed
21 Feb 20241-Year 11-Month Note (FRN) · reopening$28 B2.99×3.02×34.2 %65.6 %—not computed
20 Feb 202442-Day Bill · reopening$80 B2.78×2.76×39.5 %57.9 %5.280 %not computed
20 Feb 202413-Week Bill · reopening$79 B2.84×2.81×35.6 %60.8 %5.230 %not computed
20 Feb 202452-Week Bill$46 B2.76×3.35×24.2 %70.9 %4.695 %not computed
20 Feb 202426-Week Bill$70 B2.96×2.91×31.5 %62.8 %5.100 %not computed
15 Feb 20244-Week Bill · reopening$95 B2.75×2.78×36.8 %59.1 %5.280 %not computed
15 Feb 20248-Week Bill · reopening$90 B2.66×2.81×38.2 %57.2 %5.270 %not computed
14 Feb 202417-Week Bill$60 B3.07×3.02×35.5 %60.8 %5.215 %not computed
13 Feb 202442-Day Bill · reopening$80 B2.73×2.76×37.4 %58.0 %5.280 %not computed
12 Feb 202413-Week Bill · reopening$79 B2.92×2.81×32.6 %62.0 %5.230 %not computed
12 Feb 202426-Week Bill$70 B2.77×2.91×30.2 %64.9 %5.065 %not computed
8 Feb 20244-Week Bill · reopening$95 B2.97×2.78×34.0 %63.3 %5.280 %not computed
8 Feb 20248-Week Bill · reopening$90 B2.75×2.81×41.0 %55.8 %5.270 %not computed
8 Feb 202430-Year Bond$25 B2.40×2.43×14.8 %70.7 %4.360 %not computed
7 Feb 202417-Week Bill$60 B2.97×3.02×41.8 %55.1 %5.180 %not computed
7 Feb 202410-Year Note$42 B2.56×2.44×13.0 %71.0 %4.093 %not computed
6 Feb 202442-Day Bill · reopening$80 B2.87×2.76×41.2 %54.2 %5.280 %not computed
6 Feb 20243-Year Note$54 B2.58×2.65×15.7 %66.0 %4.169 %not computed
5 Feb 202426-Week Bill · reopening$70 B2.91×2.91×34.8 %59.4 %5.045 %not computed
5 Feb 202413-Week Bill · reopening$79 B2.91×2.81×38.0 %55.5 %5.235 %not computed
1 Feb 20244-Week Bill · reopening$95 B2.78×2.78×35.8 %59.6 %5.280 %not computed
1 Feb 20248-Week Bill · reopening$90 B2.75×2.81×45.5 %50.9 %5.265 %not computed
31 Jan 202417-Week Bill$60 B2.69×3.02×47.4 %45.8 %5.150 %not computed
30 Jan 202442-Day Bill · reopening$80 B2.70×2.76×50.0 %45.8 %5.280 %not computed
29 Jan 202413-Week Bill · reopening$79 B2.84×2.81×38.9 %56.0 %5.210 %not computed
29 Jan 202426-Week Bill$70 B3.14×2.91×22.1 %73.6 %4.985 %not computed
25 Jan 20244-Week Bill · reopening$90 B2.86×2.78×35.7 %61.2 %5.280 %not computed
25 Jan 20248-Week Bill · reopening$90 B2.85×2.81×49.5 %46.0 %5.275 %not computed
25 Jan 20247-Year Note$41 B2.57×2.48×13.9 %69.1 %4.109 %not computed
24 Jan 202417-Week Bill$60 B2.76×3.02×41.0 %52.9 %5.185 %not computed
24 Jan 20242-Year Note (FRN)$28 B3.61×2.80×16.4 %83.5 %—not computed
24 Jan 20245-Year Note$61 B2.31×2.36×20.4 %60.9 %4.055 %not computed
23 Jan 202442-Day Bill · reopening$75 B2.85×2.76×42.9 %53.5 %5.280 %not computed
23 Jan 202452-Week Bill$46 B3.05×3.35×22.6 %76.1 %4.570 %not computed
23 Jan 20242-Year Note$60 B2.57×2.80×14.8 %65.3 %4.365 %not computed
22 Jan 202413-Week Bill · reopening$77 B3.03×2.81×43.6 %51.1 %5.225 %not computed
22 Jan 202426-Week Bill$70 B2.92×2.91×23.2 %70.1 %5.020 %not computed
18 Jan 20244-Week Bill · reopening$85 B2.81×2.78×45.1 %52.0 %5.285 %not computed
18 Jan 20248-Week Bill · reopening$85 B3.06×2.81×43.6 %53.2 %5.275 %not computed
18 Jan 202410-Year Note (TIPS)$18 B2.62×2.44×3.2 %79.3 %1.810 %not computed
17 Jan 202417-Week Bill$58 B3.22×3.02×39.3 %55.7 %5.185 %not computed
17 Jan 202419-Year 10-Month Bond · reopening$13 B2.53×2.69×17.3 %62.2 %4.423 %not computed
16 Jan 202413-Week Bill · reopening$75 B2.99×2.81×37.9 %57.8 %5.225 %not computed
16 Jan 202442-Day Bill · reopening$70 B2.89×2.76×33.9 %60.9 %5.285 %not computed
16 Jan 202426-Week Bill$68 B3.17×2.91×26.0 %68.6 %4.975 %not computed
11 Jan 20244-Week Bill · reopening$80 B2.78×2.78×47.1 %47.6 %5.280 %not computed
11 Jan 20248-Week Bill · reopening$80 B2.98×2.81×40.1 %55.8 %5.275 %not computed
11 Jan 202429-Year 10-Month Bond · reopening$21 B2.37×2.40×14.5 %67.8 %4.229 %not computed
10 Jan 202417-Week Bill$56 B3.19×3.02×40.3 %56.8 %5.180 %not computed
10 Jan 20249-Year 10-Month Note · reopening$37 B2.56×2.47×15.2 %66.1 %4.024 %not computed
9 Jan 202442-Day Bill · reopening$70 B2.93×2.76×37.9 %57.4 %5.280 %not computed
9 Jan 20243-Year Note$52 B2.67×2.65×17.9 %65.3 %4.105 %not computed
8 Jan 202426-Week Bill · reopening$68 B3.06×2.91×37.1 %57.6 %5.030 %not computed

Older auctions →

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