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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-Year2.29×2.68×24 Mar 2026: 2.44×27 Apr 2026: 2.65×3-Year2.29×2.68×7 Apr 2026: 2.68×5-Year2.29×2.68×25 Mar 2026: 2.29×27 Apr 2026: 2.33×7-Year2.29×2.68×26 Mar 2026: 2.43×28 Apr 2026: 2.51×
Bid-to-cover per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
2-Year12 %24 %24 Mar 2026: 24 %27 Apr 2026: 12 %3-Year12 %24 %7 Apr 2026: 13 %5-Year12 %24 %25 Mar 2026: 16 %27 Apr 2026: 13 %7-Year12 %24 %26 Mar 2026: 12 %28 Apr 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
4 May 202626-Week Bill$77 B2.79×2.91×35.8 %53.9 %3.610 %not computed
30 Apr 20264-Week Bill · reopening$80 B2.92×2.78×28.0 %69.6 %3.600 %not computed
30 Apr 20268-Week Bill · reopening$75 B2.79×2.81×38.1 %59.8 %3.620 %not computed
29 Apr 202617-Week Bill$69 B2.78×3.02×50.2 %44.1 %3.620 %not computed
28 Apr 20266-Week Bill · reopening$70 B3.14×2.87×21.8 %74.7 %3.590 %not computed
28 Apr 20262-Year Note (FRN)$30 B3.52×2.80×34.3 %65.7 %—not computed
28 Apr 20267-Year Note$44 B2.51×2.48×11.6 %58.4 %4.175 %not computed
27 Apr 202626-Week Bill · reopening$77 B2.95×2.91×25.7 %64.6 %3.590 %not computed
27 Apr 202613-Week Bill · reopening$89 B3.09×2.81×28.1 %65.2 %3.590 %not computed
27 Apr 20265-Year Note$70 B2.33×2.36×12.7 %72.3 %3.955 %not computed
27 Apr 20262-Year Note$69 B2.65×2.80×11.9 %56.5 %3.812 %not computed
23 Apr 20264-Week Bill · reopening$80 B2.98×2.78×33.1 %64.7 %3.595 %not computed
23 Apr 20268-Week Bill · reopening$75 B2.91×2.81×35.1 %60.9 %3.605 %not computed
23 Apr 20265-Year Note (TIPS)$26 B2.57×2.36×8.5 %64.6 %1.367 %not computed
22 Apr 202617-Week Bill$69 B3.02×3.02×41.1 %52.8 %3.610 %not computed
22 Apr 202619-Year 10-Month Bond · reopening$13 B2.68×2.69×9.7 %67.4 %4.883 %not computed
21 Apr 20266-Week Bill · reopening$70 B2.88×2.87×52.3 %40.7 %3.610 %not computed
20 Apr 202613-Week Bill · reopening$89 B2.94×2.81×34.6 %58.5 %3.610 %not computed
20 Apr 202626-Week Bill$77 B2.89×2.91×32.7 %56.5 %3.590 %not computed
16 Apr 20264-Week Bill · reopening$80 B3.12×2.78×20.3 %78.4 %3.595 %not computed
16 Apr 20268-Week Bill · reopening$75 B3.22×2.81×35.0 %62.5 %3.615 %not computed
15 Apr 202617-Week Bill$69 B2.93×3.02×42.1 %52.7 %3.625 %not computed
14 Apr 20266-Week Bill · reopening$70 B3.04×2.87×37.4 %57.5 %3.630 %not computed
14 Apr 202652-Week Bill$50 B3.21×3.35×39.0 %55.8 %3.560 %not computed
13 Apr 202613-Week Bill · reopening$89 B2.77×2.81×35.6 %56.7 %3.620 %not computed
13 Apr 202626-Week Bill$77 B2.84×2.91×29.7 %61.1 %3.610 %not computed
9 Apr 20264-Week Bill · reopening$80 B3.28×2.78×16.4 %79.9 %3.560 %not computed
9 Apr 20268-Week Bill · reopening$75 B3.16×2.81×24.2 %70.6 %3.575 %not computed
9 Apr 202629-Year 10-Month Bond · reopening$22 B2.39×2.40×11.6 %64.1 %4.876 %not computed
8 Apr 202617-Week Bill$69 B3.34×3.02×32.7 %60.9 %3.600 %not computed
8 Apr 20269-Year 10-Month Note · reopening$39 B2.43×2.47×10.8 %65.3 %4.282 %not computed
7 Apr 20266-Week Bill · reopening$70 B3.57×2.87×26.3 %69.8 %3.615 %not computed
7 Apr 20263-Year Note$58 B2.68×2.65×13.3 %74.8 %3.897 %not computed
6 Apr 202613-Week Bill · reopening$89 B2.58×2.81×45.5 %46.8 %3.635 %not computed
6 Apr 202626-Week Bill$77 B3.06×2.91×30.4 %59.6 %3.615 %not computed
2 Apr 20264-Week Bill · reopening$80 B3.15×2.78×23.0 %74.3 %3.620 %not computed
2 Apr 20268-Week Bill · reopening$75 B3.26×2.81×34.7 %59.4 %3.620 %not computed
1 Apr 202617-Week Bill$69 B2.95×3.02×44.7 %47.5 %3.615 %not computed
31 Mar 20266-Week Bill · reopening$75 B2.89×2.87×44.4 %48.3 %3.645 %not computed
30 Mar 202626-Week Bill · reopening$77 B2.83×2.91×30.6 %60.7 %3.605 %not computed
30 Mar 202613-Week Bill · reopening$89 B2.66×2.81×44.1 %47.2 %3.620 %not computed
26 Mar 20264-Week Bill · reopening$85 B3.03×2.78×25.7 %71.6 %3.620 %not computed
26 Mar 20268-Week Bill · reopening$80 B3.14×2.81×34.6 %59.0 %3.630 %not computed
26 Mar 20267-Year Note$44 B2.43×2.48×12.4 %62.6 %4.255 %not computed
25 Mar 202617-Week Bill$69 B2.82×3.02×36.9 %59.5 %3.635 %not computed
25 Mar 20261-Year 10-Month Note (FRN) · reopening$28 B2.78×3.06×49.1 %50.9 %—not computed
25 Mar 20265-Year Note$70 B2.29×2.36×15.6 %61.9 %3.980 %not computed
24 Mar 20266-Week Bill · reopening$80 B2.98×2.87×38.6 %54.1 %3.635 %not computed
24 Mar 20262-Year Note$69 B2.44×2.80×24.1 %59.4 %3.936 %not computed
23 Mar 202613-Week Bill · reopening$89 B2.84×2.81×34.8 %59.8 %3.635 %not computed
23 Mar 202626-Week Bill$77 B3.03×2.91×24.8 %64.5 %3.630 %not computed
19 Mar 20264-Week Bill · reopening$90 B3.12×2.78×21.4 %77.8 %3.615 %not computed
19 Mar 20268-Week Bill · reopening$85 B2.83×2.81×37.8 %57.4 %3.635 %not computed
19 Mar 20269-Year 10-Month Note (TIPS) · reopening$19 B2.47×2.47×7.5 %68.5 %1.896 %not computed
18 Mar 202617-Week Bill$69 B3.05×3.02×40.4 %53.8 %3.610 %not computed
17 Mar 20266-Week Bill · reopening$85 B3.02×2.87×36.3 %59.7 %3.635 %not computed
17 Mar 202652-Week Bill$50 B3.43×3.35×31.6 %64.9 %3.485 %not computed
17 Mar 202619-Year 11-Month Bond · reopening$13 B2.76×2.67×9.2 %69.2 %4.817 %not computed
16 Mar 202613-Week Bill · reopening$89 B2.94×2.81×38.6 %56.8 %3.610 %not computed
16 Mar 202626-Week Bill$77 B2.64×2.91×41.9 %50.6 %3.570 %not computed

Older auctions →

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