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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-Year2.48×2.90×26 Jun 2023: 2.86×24 Jul 2023: 2.78×3-Year2.48×2.90×11 Jul 2023: 2.88×8 Aug 2023: 2.90×5-Year2.48×2.90×27 Jun 2023: 2.52×25 Jul 2023: 2.60×7-Year2.48×2.90×28 Jun 2023: 2.65×27 Jul 2023: 2.48×
Bid-to-cover per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
2-Year8 %14 %26 Jun 2023: 13 %24 Jul 2023: 14 %3-Year8 %14 %11 Jul 2023: 11 %8 Aug 2023: 10 %5-Year8 %14 %27 Jun 2023: 12 %25 Jul 2023: 13 %7-Year8 %14 %28 Jun 2023: 8 %27 Jul 2023: 14 %
Dealer share per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
Auction results
DateSecuritySizeBid-to-cover12-meanDealersIndirectsHigh yieldTail
8 Aug 202342-Day Bill · reopening$55 B2.95×2.76×49.7 %44.9 %5.275 %not computed
8 Aug 202352-Week Bill$40 B2.97×3.35×37.1 %59.7 %5.060 %not computed
8 Aug 20233-Year Note$42 B2.90×2.65×10.3 %74.0 %4.398 %not computed
7 Aug 202313-Week Bill · reopening$67 B2.83×2.81×37.0 %58.1 %5.290 %not computed
7 Aug 202326-Week Bill$60 B2.92×2.91×31.1 %63.9 %5.265 %not computed
3 Aug 20234-Week Bill · reopening$70 B2.80×2.78×42.3 %53.0 %5.275 %not computed
3 Aug 20238-Week Bill · reopening$60 B2.77×2.81×41.9 %53.6 %5.285 %not computed
2 Aug 202317-Week Bill$46 B3.21×3.02×39.3 %55.9 %5.300 %not computed
1 Aug 202342-Day Bill · reopening$50 B3.24×2.76×53.6 %39.2 %5.280 %not computed
31 Jul 202313-Week Bill · reopening$65 B2.93×2.81×38.5 %55.8 %5.280 %not computed
31 Jul 202326-Week Bill$58 B2.95×2.91×26.1 %71.0 %5.270 %not computed
27 Jul 20234-Week Bill · reopening$70 B3.18×2.78×36.1 %60.2 %5.275 %not computed
27 Jul 20238-Week Bill · reopening$60 B2.86×2.81×41.2 %54.4 %5.285 %not computed
27 Jul 20237-Year Note$35 B2.48×2.48×14.3 %69.8 %4.087 %not computed
26 Jul 202317-Week Bill$46 B2.99×3.02×41.3 %52.5 %5.300 %not computed
26 Jul 20232-Year Note (FRN)$24 B2.58×2.80×46.7 %53.3 %—not computed
25 Jul 202342-Day Bill · reopening$50 B3.53×2.76×38.5 %53.5 %5.275 %not computed
25 Jul 20235-Year Note$43 B2.60×2.36×13.5 %64.4 %4.170 %not computed
24 Jul 202326-Week Bill · reopening$58 B2.89×2.91×33.5 %63.5 %5.270 %not computed
24 Jul 202313-Week Bill · reopening$65 B2.92×2.81×38.3 %58.3 %5.270 %not computed
24 Jul 20232-Year Note$42 B2.78×2.80×13.8 %65.5 %4.823 %not computed
20 Jul 20234-Week Bill · reopening$70 B2.66×2.78×41.1 %52.8 %5.255 %not computed
20 Jul 20238-Week Bill · reopening$60 B2.99×2.81×35.5 %60.7 %5.255 %not computed
20 Jul 202310-Year Note (TIPS)$17 B2.51×2.44×1.5 %85.8 %1.495 %not computed
19 Jul 202317-Week Bill$46 B3.29×3.02×38.1 %58.0 %5.270 %not computed
19 Jul 202319-Year 10-Month Bond · reopening$12 B2.68×2.69×9.6 %68.8 %4.036 %not computed
18 Jul 202342-Day Bill · reopening$50 B3.19×2.76×42.5 %52.5 %5.240 %not computed
17 Jul 202313-Week Bill · reopening$65 B3.11×2.81×34.6 %60.8 %5.250 %not computed
17 Jul 202326-Week Bill$58 B3.05×2.91×29.0 %68.4 %5.250 %not computed
13 Jul 20234-Week Bill · reopening$70 B2.79×2.78×40.1 %55.4 %5.210 %not computed
13 Jul 20238-Week Bill · reopening$60 B2.87×2.81×39.7 %58.5 %5.230 %not computed
13 Jul 202329-Year 10-Month Bond · reopening$18 B2.43×2.40×10.9 %69.0 %3.910 %not computed
12 Jul 202317-Week Bill$46 B3.13×3.02×39.1 %57.2 %5.260 %not computed
12 Jul 20239-Year 10-Month Note · reopening$32 B2.53×2.47×12.4 %67.7 %3.857 %not computed
11 Jul 202342-Day Bill · reopening$50 B2.81×2.76×42.0 %55.8 %5.210 %not computed
11 Jul 202352-Week Bill$38 B2.88×3.35×29.4 %68.3 %5.130 %not computed
11 Jul 20233-Year Note$40 B2.88×2.65×10.8 %69.4 %4.534 %not computed
10 Jul 202313-Week Bill · reopening$65 B3.12×2.81×38.3 %58.8 %5.250 %not computed
10 Jul 202326-Week Bill$58 B2.93×2.91×32.3 %65.2 %5.270 %not computed
6 Jul 20234-Week Bill · reopening$70 B2.54×2.78×50.7 %47.3 %5.150 %not computed
6 Jul 20238-Week Bill · reopening$60 B2.88×2.81×32.0 %66.1 %5.200 %not computed
5 Jul 202317-Week Bill$46 B3.31×3.02×37.3 %60.4 %5.250 %not computed
3 Jul 202313-Week Bill · reopening$65 B3.00×2.81×37.1 %60.6 %5.230 %not computed
3 Jul 202342-Day Bill · reopening$50 B2.73×2.76×47.3 %50.8 %5.170 %not computed
3 Jul 202326-Week Bill$58 B3.02×2.91×31.5 %67.0 %5.260 %not computed
29 Jun 20234-Week Bill · reopening$70 B2.53×2.78×43.2 %53.9 %5.085 %not computed
29 Jun 20238-Week Bill · reopening$60 B2.61×2.81×48.5 %49.0 %5.190 %not computed
28 Jun 202317-Week Bill$46 B3.44×3.02×43.2 %53.5 %5.225 %not computed
28 Jun 20231-Year 10-Month Note (FRN) · reopening$22 B3.39×3.06×38.9 %61.1 %—not computed
28 Jun 20237-Year Note$35 B2.65×2.48×8.1 %75.3 %3.839 %not computed
27 Jun 202342-Day Bill · reopening$50 B2.79×2.76×45.5 %51.8 %5.105 %not computed
27 Jun 20235-Year Note$43 B2.52×2.36×12.2 %68.1 %4.019 %not computed
26 Jun 202313-Week Bill · reopening$65 B2.99×2.81×47.3 %48.3 %5.180 %not computed
26 Jun 202326-Week Bill · reopening$58 B2.73×2.91×38.2 %59.4 %5.215 %not computed
26 Jun 20232-Year Note$42 B2.86×2.80×13.3 %68.5 %4.670 %not computed
22 Jun 20234-Week Bill · reopening$70 B2.93×2.78×30.4 %67.4 %5.010 %not computed
22 Jun 20238-Week Bill · reopening$60 B2.78×2.81×49.3 %48.0 %5.140 %not computed
22 Jun 20234-Year 10-Month Note (TIPS) · reopening$19 B2.56×2.55×3.9 %85.1 %1.832 %not computed
21 Jun 202317-Week Bill$46 B3.27×3.02×42.9 %53.7 %5.220 %not computed
21 Jun 202319-Year 11-Month Bond · reopening$12 B2.87×2.67×7.8 %74.6 %4.010 %not computed

Older auctions →

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