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Independent research desk
Frameworks by James Lavish / Independent & unaffiliatedLast data check Fri 25 Sept 2026, 5:16 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-Year2.04×2.69×23 Mar 2021: 2.54×3-Year2.04×2.69×9 Mar 2021: 2.69×12 Apr 2021: 2.32×5-Year2.04×2.69×24 Feb 2021: 2.24×24 Mar 2021: 2.36×7-Year2.04×2.69×25 Feb 2021: 2.04×25 Mar 2021: 2.23×
Bid-to-cover per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
2-Year25 %40 %23 Mar 2021: 32 %3-Year25 %40 %9 Mar 2021: 34 %12 Apr 2021: 33 %5-Year25 %40 %24 Feb 2021: 29 %24 Mar 2021: 25 %7-Year25 %40 %25 Feb 2021: 40 %25 Mar 2021: 25 %
Dealer share per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
Auction results
DateSecuritySizeBid-to-cover12-meanDealersIndirectsHigh yieldTail
14 Apr 2021119-Day Bill$35 B3.60×3.32×54.0 %41.2 %0.025 %not computed
13 Apr 202142-Day Bill · reopening$40 B3.34×2.76×53.8 %37.3 %0.015 %not computed
13 Apr 202129-Year 10-Month Bond · reopening$24 B2.47×2.40×17.1 %61.0 %2.320 %not computed
12 Apr 202113-Week Bill · reopening$57 B3.02×2.81×53.1 %40.3 %0.020 %not computed
12 Apr 202126-Week Bill$54 B3.39×2.91×39.7 %56.2 %0.040 %not computed
12 Apr 20219-Year 10-Month Note · reopening$38 B2.36×2.47×24.2 %59.6 %1.680 %not computed
12 Apr 20213-Year Note$58 B2.32×2.65×33.1 %51.1 %0.376 %not computed
8 Apr 20214-Week Bill · reopening$40 B3.72×2.77×55.0 %34.4 %0.010 %not computed
8 Apr 20218-Week Bill · reopening$40 B3.71×2.82×44.2 %47.9 %0.010 %not computed
7 Apr 2021119-Day Bill$35 B4.06×3.32×36.9 %55.0 %0.025 %not computed
6 Apr 202142-Day Bill · reopening$40 B3.50×2.76×58.4 %30.7 %0.020 %not computed
5 Apr 202126-Week Bill · reopening$54 B3.38×2.91×31.3 %64.9 %0.035 %not computed
5 Apr 202113-Week Bill · reopening$57 B3.00×2.81×32.7 %62.5 %0.020 %not computed
1 Apr 20214-Week Bill · reopening$40 B3.19×2.77×49.0 %44.2 %0.015 %not computed
1 Apr 20218-Week Bill · reopening$40 B3.62×2.82×41.5 %54.1 %0.015 %not computed
31 Mar 2021119-Day Bill$35 B3.49×3.32×41.5 %53.2 %0.030 %not computed
30 Mar 202142-Day Bill · reopening$40 B2.97×2.76×44.7 %45.0 %0.015 %not computed
29 Mar 202113-Week Bill · reopening$57 B2.68×2.81×56.6 %38.4 %0.020 %not computed
29 Mar 202126-Week Bill$54 B2.93×2.91×41.0 %55.2 %0.040 %not computed
25 Mar 20214-Week Bill · reopening$40 B3.10×2.77×57.9 %35.4 %0.015 %not computed
25 Mar 20218-Week Bill · reopening$40 B3.44×2.82×40.5 %51.7 %0.020 %not computed
25 Mar 20217-Year Note$62 B2.23×2.48×24.7 %57.3 %1.300 %not computed
24 Mar 2021119-Day Bill$35 B3.65×3.32×20.8 %74.2 %0.030 %not computed
24 Mar 20211-Year 10-Month Note (FRN) · reopening$26 B3.25×2.99×32.1 %66.0 %—not computed
24 Mar 20215-Year Note$61 B2.36×2.35×25.3 %58.1 %0.850 %not computed
23 Mar 202142-Day Bill · reopening$40 B3.16×2.76×47.9 %43.1 %0.010 %not computed
23 Mar 202152-Week Bill$34 B3.46×3.35×54.4 %42.8 %0.070 %not computed
23 Mar 20212-Year Note$60 B2.54×2.81×31.7 %50.7 %0.152 %not computed
22 Mar 202113-Week Bill · reopening$57 B3.16×2.81×37.7 %58.8 %0.015 %not computed
22 Mar 202126-Week Bill$54 B2.96×2.91×45.0 %51.7 %0.040 %not computed
18 Mar 20214-Week Bill · reopening$40 B3.30×2.77×44.1 %34.9 %0.005 %not computed
18 Mar 20218-Week Bill · reopening$40 B3.10×2.82×59.8 %30.3 %0.010 %not computed
18 Mar 20219-Year 10-Month Note (TIPS) · reopening$13 B2.42×2.47×10.8 %74.0 %−0.580 %not computed
17 Mar 2021119-Day Bill · reopening$35 B3.42×3.32×48.0 %45.2 %0.040 %not computed
16 Mar 202142-Day Bill · reopening$35 B3.75×2.76×50.2 %41.3 %0.015 %not computed
16 Mar 202119-Year 11-Month Bond · reopening$24 B2.51×2.67×21.6 %61.4 %2.290 %not computed
15 Mar 202113-Week Bill · reopening$57 B3.31×2.81×41.3 %52.9 %0.030 %not computed
15 Mar 202126-Week Bill$54 B2.94×2.91×42.2 %52.8 %0.055 %not computed
11 Mar 20214-Week Bill · reopening$30 B3.81×2.77×48.8 %45.6 %0.030 %not computed
11 Mar 20218-Week Bill · reopening$35 B3.40×2.82×38.0 %60.8 %0.035 %not computed
11 Mar 202129-Year 11-Month Bond · reopening$24 B2.28×2.42×19.2 %60.6 %2.295 %not computed
10 Mar 2021119-Day Bill · reopening$30 B3.75×3.32×50.2 %40.4 %0.050 %not computed
10 Mar 20219-Year 11-Month Note · reopening$38 B2.38×2.59×25.4 %56.8 %1.523 %not computed
9 Mar 202142-Day Bill · reopening$30 B3.75×2.76×51.1 %42.0 %0.030 %not computed
9 Mar 20213-Year Note$58 B2.69×2.65×34.0 %47.8 %0.355 %not computed
8 Mar 202126-Week Bill · reopening$51 B3.55×2.91×26.2 %72.7 %0.060 %not computed
8 Mar 202113-Week Bill · reopening$54 B3.06×2.81×41.9 %54.6 %0.045 %not computed
4 Mar 20214-Week Bill · reopening$30 B3.40×2.77×51.8 %37.8 %0.030 %not computed
4 Mar 20218-Week Bill · reopening$35 B3.34×2.82×45.3 %50.2 %0.035 %not computed
3 Mar 2021119-Day Bill · reopening$30 B3.71×3.32×29.7 %62.5 %0.050 %not computed
2 Mar 202142-Day Bill · reopening$30 B3.54×2.76×44.0 %47.7 %0.040 %not computed
1 Mar 202113-Week Bill · reopening$54 B3.06×2.81×41.1 %56.2 %0.040 %not computed
1 Mar 202126-Week Bill$51 B2.91×2.91×51.1 %42.4 %0.060 %not computed
25 Feb 20214-Week Bill · reopening$30 B3.30×2.77×49.7 %41.1 %0.035 %not computed
25 Feb 20218-Week Bill · reopening$35 B3.05×2.82×59.6 %34.9 %0.040 %not computed
25 Feb 20217-Year Note$62 B2.04×2.48×39.8 %38.1 %1.195 %not computed
24 Feb 2021119-Day Bill · reopening$30 B3.16×3.32×59.7 %35.4 %0.045 %not computed
24 Feb 20211-Year 11-Month Note (FRN) · reopening$26 B2.88×3.02×39.3 %59.7 %—not computed
24 Feb 20215-Year Note$61 B2.24×2.35×28.6 %57.1 %0.621 %not computed
23 Feb 202142-Day Bill · reopening$30 B3.24×2.76×53.7 %37.5 %0.025 %not computed

Older auctions →

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