The Fiscal DeskFiscal policy. Monetary plumbing. Public data.
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-Year2.23×2.64×25 Oct 2022: 2.59×3-Year2.23×2.64×11 Oct 2022: 2.57×8 Nov 2022: 2.57×5-Year2.23×2.64×27 Sept 2022: 2.27×26 Oct 2022: 2.48×7-Year2.23×2.64×28 Sept 2022: 2.57×27 Oct 2022: 2.43×10-Year2.23×2.64×9 Nov 2022: 2.23×20-Year2.23×2.64×16 Nov 2022: 2.64×30-Year2.23×2.64×10 Nov 2022: 2.42×
Bid-to-cover per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
2-Year9 %27 %25 Oct 2022: 24 %3-Year9 %27 %11 Oct 2022: 27 %8 Nov 2022: 21 %5-Year9 %27 %27 Sept 2022: 22 %26 Oct 2022: 16 %7-Year9 %27 %28 Sept 2022: 13 %27 Oct 2022: 14 %10-Year9 %27 %9 Nov 2022: 24 %20-Year9 %27 %16 Nov 2022: 9 %30-Year9 %27 %10 Nov 2022: 10 %
Dealer share per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
Auction results
DateSecuritySizeBid-to-cover12-meanDealersIndirectsHigh yieldTail
17 Nov 202216-Day Bill · reopening$40 B2.38×3.21×79.9 %15.6 %3.800 %not computed
17 Nov 20224-Week Bill · reopening$65 B2.54×2.78×37.5 %61.1 %3.795 %not computed
17 Nov 20228-Week Bill · reopening$55 B2.46×2.81×44.9 %54.0 %4.020 %not computed
17 Nov 20229-Year 8-Month Note (TIPS) · reopening$15 B2.25×2.39×9.5 %74.4 %1.485 %not computed
16 Nov 202217-Week Bill$33 B3.15×3.02×47.5 %49.5 %4.320 %not computed
16 Nov 202220-Year Bond$15 B2.64×2.47×9.3 %75.4 %4.072 %not computed
14 Nov 202226-Week Bill · reopening$45 B2.86×2.91×33.1 %64.0 %4.440 %not computed
14 Nov 202213-Week Bill · reopening$57 B2.63×2.81×39.0 %54.9 %4.155 %not computed
10 Nov 20224-Week Bill · reopening$65 B2.65×2.78×33.4 %56.8 %3.580 %not computed
10 Nov 20228-Week Bill · reopening$55 B2.68×2.81×38.6 %60.2 %3.850 %not computed
10 Nov 202230-Year Bond$21 B2.42×2.43×9.7 %69.9 %4.080 %not computed
9 Nov 202217-Week Bill$33 B3.21×3.02×36.5 %62.0 %4.300 %not computed
9 Nov 202210-Year Note$35 B2.23×2.44×24.4 %57.5 %4.140 %not computed
8 Nov 20223-Year Note$40 B2.57×2.65×20.8 %62.2 %4.605 %not computed
7 Nov 202213-Week Bill · reopening$57 B2.72×2.81×45.3 %49.5 %4.120 %not computed
7 Nov 202226-Week Bill$45 B2.89×2.91×38.2 %59.3 %4.490 %not computed
3 Nov 20224-Week Bill · reopening$65 B2.53×2.78×44.5 %54.7 %3.620 %not computed
3 Nov 20228-Week Bill · reopening$55 B2.75×2.81×36.7 %62.3 %3.880 %not computed
2 Nov 202217-Week Bill$33 B3.14×3.02×32.0 %65.7 %4.280 %not computed
1 Nov 202252-Week Bill$34 B2.83×3.35×32.7 %66.6 %4.505 %not computed
31 Oct 202213-Week Bill · reopening$57 B2.60×2.81×34.8 %57.9 %4.070 %not computed
31 Oct 202226-Week Bill$45 B2.95×2.91×43.6 %50.8 %4.440 %not computed
27 Oct 20224-Week Bill · reopening$65 B2.48×2.78×42.1 %56.3 %3.600 %not computed
27 Oct 20228-Week Bill · reopening$55 B2.67×2.81×45.2 %52.7 %3.820 %not computed
27 Oct 20227-Year Note$35 B2.43×2.48×14.1 %63.2 %4.027 %not computed
26 Oct 202217-Week Bill$33 B2.92×3.02×37.8 %60.5 %4.180 %not computed
26 Oct 20222-Year Note (FRN)$24 B2.65×2.80×25.9 %72.6 %—not computed
26 Oct 20225-Year Note$43 B2.48×2.36×16.5 %68.0 %4.192 %not computed
25 Oct 20222-Year Note$42 B2.59×2.80×24.2 %50.5 %4.460 %not computed
24 Oct 202213-Week Bill · reopening$57 B2.56×2.81×39.4 %48.6 %4.000 %not computed
24 Oct 202226-Week Bill$45 B2.56×2.91×48.3 %33.1 %4.390 %not computed
20 Oct 20224-Week Bill · reopening$65 B2.35×2.78×52.0 %46.8 %3.430 %not computed
20 Oct 20228-Week Bill · reopening$55 B2.49×2.81×43.8 %54.9 %3.690 %not computed
20 Oct 20225-Year Note (TIPS)$21 B2.38×2.36×7.7 %75.3 %1.732 %not computed
19 Oct 202217-Week Bill$33 B2.93×3.02×34.8 %55.7 %4.140 %not computed
19 Oct 202219-Year 10-Month Bond · reopening$12 B2.50×2.69×16.4 %63.7 %4.395 %not computed
17 Oct 202226-Week Bill · reopening$45 B2.66×2.91×46.5 %50.2 %4.245 %not computed
17 Oct 202213-Week Bill · reopening$57 B2.49×2.81×47.4 %49.3 %3.820 %not computed
13 Oct 20224-Week Bill · reopening$60 B2.50×2.78×42.1 %56.4 %3.250 %not computed
13 Oct 20228-Week Bill · reopening$50 B2.48×2.81×41.3 %57.4 %3.480 %not computed
13 Oct 202229-Year 10-Month Bond · reopening$18 B2.39×2.40×12.2 %69.1 %3.930 %not computed
12 Oct 2022119-Day Bill$33 B3.23×3.32×33.8 %64.3 %3.890 %not computed
12 Oct 20229-Year 10-Month Note · reopening$32 B2.34×2.47×19.7 %56.8 %3.930 %not computed
11 Oct 202213-Week Bill · reopening$57 B2.39×2.81×55.6 %41.1 %3.510 %not computed
11 Oct 202226-Week Bill$45 B2.86×2.91×45.6 %52.2 %4.030 %not computed
11 Oct 20223-Year Note$40 B2.57×2.65×27.1 %53.4 %4.318 %not computed
6 Oct 20224-Week Bill · reopening$50 B2.75×2.78×44.1 %54.5 %2.920 %not computed
6 Oct 20228-Week Bill · reopening$45 B2.53×2.81×58.7 %39.2 %3.230 %not computed
5 Oct 2022119-Day Bill$30 B3.19×3.32×36.7 %60.7 %3.700 %not computed
4 Oct 202252-Week Bill$34 B2.68×3.35×37.8 %58.7 %3.955 %not computed
3 Oct 202213-Week Bill · reopening$54 B2.56×2.81×42.3 %53.5 %3.340 %not computed
3 Oct 202226-Week Bill$42 B2.62×2.91×50.3 %46.5 %3.850 %not computed
29 Sept 20224-Week Bill · reopening$50 B2.54×2.78×38.2 %59.4 %2.660 %not computed
29 Sept 20228-Week Bill · reopening$45 B2.57×2.81×42.8 %56.1 %3.065 %not computed
28 Sept 2022119-Day Bill$30 B3.05×3.32×47.7 %50.6 %3.590 %not computed
28 Sept 20221-Year 10-Month Note (FRN) · reopening$22 B2.84×3.06×34.1 %64.2 %—not computed
28 Sept 20227-Year Note$36 B2.57×2.48×12.9 %62.5 %3.898 %not computed
27 Sept 20225-Year Note$44 B2.27×2.36×21.7 %59.6 %4.228 %not computed
26 Sept 202213-Week Bill · reopening$54 B2.56×2.81×40.5 %56.2 %3.270 %not computed
26 Sept 202226-Week Bill$42 B2.68×2.91×47.3 %50.2 %3.850 %not computed

Older auctions →

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