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Independent research desk
Frameworks by James Lavish / Independent & unaffiliatedData as of Tue 22 Sept 2026, 1:16 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-Year2.30×2.64×26 May 2026: 2.64×3-Year2.30×2.64×11 May 2026: 2.54×9 Jun 2026: 2.64×5-Year2.30×2.64×27 May 2026: 2.34×7-Year2.30×2.64×28 May 2026: 2.52×10-Year2.30×2.64×12 May 2026: 2.40×20-Year2.30×2.64×20 May 2026: 2.55×30-Year2.30×2.64×13 May 2026: 2.30×
Bid-to-cover per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
2-Year9 %17 %26 May 2026: 12 %3-Year9 %17 %11 May 2026: 17 %9 Jun 2026: 15 %5-Year9 %17 %27 May 2026: 13 %7-Year9 %17 %28 May 2026: 10 %10-Year9 %17 %12 May 2026: 12 %20-Year9 %17 %20 May 2026: 9 %30-Year9 %17 %13 May 2026: 12 %
Dealer share per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
Auction results
DateSecuritySizeBid-to-cover12-meanDealersIndirectsHigh yieldTail
22 Jun 202626-Week Bill · reopening$77 B2.51×2.91×43.0 %53.0 %3.840 %not computed
22 Jun 202613-Week Bill · reopening$89 B2.68×2.81×35.4 %59.8 %3.695 %not computed
18 Jun 20264-Week Bill · reopening$70 B2.99×2.78×24.5 %72.3 %3.580 %not computed
18 Jun 20268-Week Bill · reopening$75 B2.57×2.81×44.6 %51.5 %3.640 %not computed
18 Jun 20264-Year 10-Month Note (TIPS) · reopening$24 B2.61×2.55×3.4 %68.6 %1.955 %not computed
17 Jun 202617-Week Bill$69 B2.87×3.02×41.9 %53.0 %3.670 %not computed
16 Jun 20266-Week Bill · reopening$65 B3.12×2.87×28.8 %69.1 %3.600 %not computed
16 Jun 202619-Year 11-Month Bond · reopening$13 B2.75×2.67×8.5 %71.6 %4.927 %not computed
15 Jun 202613-Week Bill · reopening$89 B2.47×2.81×45.4 %49.8 %3.640 %not computed
15 Jun 202626-Week Bill$77 B2.76×2.91×23.3 %70.1 %3.680 %not computed
11 Jun 20264-Week Bill · reopening$70 B3.13×2.78×27.4 %70.6 %3.595 %not computed
11 Jun 20268-Week Bill · reopening$75 B2.94×2.81×28.1 %69.6 %3.610 %not computed
11 Jun 202629-Year 11-Month Bond · reopening$22 B2.33×2.42×14.7 %60.0 %5.020 %not computed
10 Jun 202617-Week Bill$69 B2.88×3.02×37.3 %58.0 %3.665 %not computed
10 Jun 20269-Year 11-Month Note · reopening$39 B2.57×2.59×9.5 %78.2 %4.538 %not computed
9 Jun 20266-Week Bill · reopening$65 B3.25×2.87×35.8 %58.7 %3.600 %not computed
9 Jun 202652-Week Bill$50 B3.34×3.35×29.6 %68.2 %3.750 %not computed
9 Jun 20263-Year Note$58 B2.64×2.65×15.3 %63.7 %4.192 %not computed
8 Jun 202613-Week Bill · reopening$89 B2.79×2.81×37.9 %56.2 %3.640 %not computed
8 Jun 202626-Week Bill$77 B2.75×2.91×40.6 %53.9 %3.690 %not computed
4 Jun 20264-Week Bill · reopening$75 B3.07×2.78×46.0 %51.6 %3.615 %not computed
4 Jun 20268-Week Bill · reopening$75 B3.20×2.81×31.9 %65.1 %3.610 %not computed
3 Jun 202617-Week Bill$69 B3.15×3.02×34.6 %61.2 %3.635 %not computed
2 Jun 20266-Week Bill · reopening$75 B3.28×2.87×32.8 %63.6 %3.625 %not computed
1 Jun 202613-Week Bill · reopening$89 B2.69×2.81×42.0 %51.0 %3.630 %not computed
1 Jun 202626-Week Bill$77 B2.84×2.91×34.0 %56.4 %3.665 %not computed
28 May 20264-Week Bill · reopening$85 B2.76×2.78×40.0 %54.1 %3.630 %not computed
28 May 20268-Week Bill · reopening$80 B3.08×2.81×32.2 %64.7 %3.615 %not computed
28 May 20267-Year Note$44 B2.52×2.48×10.4 %78.4 %4.290 %not computed
27 May 202617-Week Bill$69 B3.01×3.02×39.1 %56.3 %3.630 %not computed
27 May 20261-Year 11-Month Note (FRN) · reopening$28 B3.49×3.02×26.8 %72.4 %—not computed
27 May 20265-Year Note$70 B2.34×2.36×12.8 %74.9 %4.182 %not computed
26 May 20266-Week Bill · reopening$85 B2.71×2.87×45.1 %49.3 %3.620 %not computed
26 May 202626-Week Bill · reopening$77 B2.77×2.91×34.2 %57.4 %3.650 %not computed
26 May 202613-Week Bill · reopening$89 B3.08×2.81×32.8 %60.3 %3.595 %not computed
26 May 20262-Year Note$69 B2.64×2.80×12.3 %57.6 %4.071 %not computed
21 May 202627-Day Bill · reopening$25 B4.60×4.00×71.6 %15.5 %3.605 %not computed
21 May 20264-Week Bill · reopening$100 B2.60×2.78×35.2 %61.1 %3.610 %not computed
21 May 20268-Week Bill · reopening$95 B2.77×2.81×27.8 %68.4 %3.600 %not computed
21 May 20269-Year 8-Month Note (TIPS) · reopening$19 B2.52×2.39×11.1 %61.4 %2.169 %not computed
20 May 202617-Week Bill$69 B3.34×3.02×33.8 %59.1 %3.590 %not computed
20 May 202620-Year Bond$16 B2.55×2.47×9.4 %67.7 %5.122 %not computed
19 May 20266-Week Bill · reopening$85 B3.01×2.87×35.7 %56.7 %3.580 %not computed
18 May 202613-Week Bill · reopening$89 B3.17×2.81×30.4 %63.2 %3.600 %not computed
18 May 202626-Week Bill$77 B3.07×2.91×27.6 %63.2 %3.615 %not computed
14 May 20264-Week Bill · reopening$100 B2.66×2.78×36.8 %57.1 %3.605 %not computed
14 May 20268-Week Bill · reopening$95 B2.72×2.81×40.2 %54.4 %3.610 %not computed
13 May 202617-Week Bill$69 B3.20×3.02×34.1 %59.9 %3.615 %not computed
13 May 202630-Year Bond$25 B2.30×2.43×11.7 %66.6 %5.046 %not computed
12 May 20266-Week Bill · reopening$80 B2.80×2.87×37.1 %57.0 %3.615 %not computed
12 May 202652-Week Bill$50 B3.41×3.35×27.5 %69.1 %3.650 %not computed
12 May 202610-Year Note$42 B2.40×2.44×12.0 %64.0 %4.468 %not computed
11 May 202613-Week Bill · reopening$89 B2.86×2.81×34.2 %58.9 %3.610 %not computed
11 May 202626-Week Bill$77 B2.91×2.91×35.3 %56.0 %3.615 %not computed
11 May 20263-Year Note$58 B2.54×2.65×16.9 %63.0 %3.965 %not computed
7 May 20264-Week Bill · reopening$90 B2.59×2.78×46.6 %47.1 %3.610 %not computed
7 May 20268-Week Bill · reopening$85 B2.91×2.81×29.2 %64.2 %3.595 %not computed
6 May 202617-Week Bill$69 B3.13×3.02×44.2 %50.3 %3.605 %not computed
5 May 20266-Week Bill · reopening$75 B3.07×2.87×29.0 %64.1 %3.595 %not computed
4 May 202613-Week Bill · reopening$89 B2.76×2.81×42.8 %49.3 %3.610 %not computed

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