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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-Year2.28×2.52×28 Dec 2020: 2.45×3-Year2.28×2.52×8 Dec 2020: 2.28×11 Jan 2021: 2.52×5-Year2.28×2.52×28 Dec 2020: 2.39×7-Year2.28×2.52×29 Dec 2020: 2.31×
Bid-to-cover per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
2-Year23 %35 %28 Dec 2020: 33 %3-Year23 %35 %8 Dec 2020: 35 %11 Jan 2021: 33 %5-Year23 %35 %28 Dec 2020: 25 %7-Year23 %35 %29 Dec 2020: 23 %
Dealer share per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
Auction results
DateSecuritySizeBid-to-cover12-meanDealersIndirectsHigh yieldTail
12 Jan 202142-Day Bill · reopening$30 B3.18×2.76×68.4 %23.9 %0.085 %not computed
12 Jan 20219-Year 10-Month Note · reopening$38 B2.47×2.47×20.0 %62.3 %1.164 %not computed
11 Jan 202126-Week Bill · reopening$51 B3.29×2.91×34.7 %54.5 %0.090 %not computed
11 Jan 202113-Week Bill · reopening$54 B2.92×2.81×49.7 %38.6 %0.090 %not computed
11 Jan 20213-Year Note$58 B2.52×2.65×33.2 %52.2 %0.234 %not computed
7 Jan 20214-Week Bill · reopening$30 B3.46×2.77×57.1 %23.3 %0.080 %not computed
7 Jan 20218-Week Bill · reopening$35 B3.81×2.82×37.2 %50.6 %0.085 %not computed
6 Jan 2021105-Day Bill · reopening$25 B3.73×3.86×50.2 %40.6 %0.090 %not computed
6 Jan 2021154-Day Bill$30 B3.57×3.46×45.3 %39.7 %0.090 %not computed
5 Jan 202142-Day Bill · reopening$30 B3.13×2.76×74.3 %18.3 %0.085 %not computed
5 Jan 2021119-Day Bill · reopening$30 B3.93×3.32×47.2 %47.3 %0.085 %not computed
4 Jan 202113-Week Bill · reopening$54 B2.95×2.81×45.8 %49.7 %0.090 %not computed
4 Jan 202126-Week Bill$51 B3.24×2.91×39.4 %56.3 %0.090 %not computed
31 Dec 20204-Week Bill · reopening$30 B3.06×2.77×65.2 %28.1 %0.080 %not computed
31 Dec 20208-Week Bill · reopening$35 B2.84×2.82×59.6 %35.6 %0.085 %not computed
30 Dec 2020105-Day Bill · reopening$25 B3.55×3.86×56.1 %39.3 %0.090 %not computed
30 Dec 2020154-Day Bill$30 B3.52×3.46×61.6 %33.4 %0.090 %not computed
29 Dec 202042-Day Bill · reopening$30 B3.66×2.76×46.3 %51.2 %0.085 %not computed
29 Dec 2020119-Day Bill · reopening$30 B3.73×3.32×39.6 %58.2 %0.095 %not computed
29 Dec 202052-Week Bill$34 B3.21×3.35×58.4 %29.9 %0.110 %not computed
29 Dec 20207-Year Note$59 B2.31×2.48×22.7 %60.3 %0.662 %not computed
28 Dec 202013-Week Bill · reopening$54 B2.81×2.81×42.8 %52.3 %0.095 %not computed
28 Dec 202026-Week Bill$51 B3.10×2.91×35.8 %60.2 %0.100 %not computed
28 Dec 20205-Year Note$59 B2.39×2.35×24.9 %57.1 %0.394 %not computed
28 Dec 20202-Year Note$58 B2.45×2.81×33.3 %49.2 %0.137 %not computed
24 Dec 20204-Week Bill · reopening$30 B3.37×2.77×49.0 %41.8 %0.080 %not computed
24 Dec 20208-Week Bill · reopening$35 B3.27×2.82×46.7 %49.2 %0.090 %not computed
23 Dec 2020105-Day Bill · reopening$25 B3.62×3.86×41.3 %49.2 %0.090 %not computed
23 Dec 2020154-Day Bill$30 B3.48×3.46×42.0 %52.5 %0.095 %not computed
23 Dec 20201-Year 10-Month Note (FRN) · reopening$24 B2.83×2.99×49.1 %48.9 %—not computed
22 Dec 2020119-Day Bill · reopening$30 B3.42×3.32×53.5 %41.1 %0.090 %not computed
22 Dec 202042-Day Bill · reopening$30 B3.38×2.76×55.7 %36.2 %0.080 %not computed
22 Dec 20204-Year 10-Month Note (TIPS) · reopening$15 B2.86×2.55×27.1 %64.2 %−1.575 %not computed
21 Dec 202013-Week Bill · reopening$54 B2.82×2.81×50.5 %43.1 %0.090 %not computed
21 Dec 202026-Week Bill$51 B3.15×2.91×36.1 %61.2 %0.090 %not computed
21 Dec 202019-Year 11-Month Bond · reopening$24 B2.39×2.67×26.0 %56.3 %1.470 %not computed
17 Dec 20208-Day Bill · reopening$25 M6.53×4.03×100.0 %0.0 %0.060 %not computed
17 Dec 20204-Week Bill · reopening$30 B3.54×2.77×41.8 %46.4 %0.075 %not computed
17 Dec 20208-Week Bill · reopening$35 B3.38×2.82×39.5 %53.1 %0.080 %not computed
16 Dec 2020105-Day Bill · reopening$25 B3.82×3.86×43.2 %54.0 %0.085 %not computed
16 Dec 2020154-Day Bill$30 B3.28×3.46×63.1 %30.0 %0.090 %not computed
15 Dec 2020119-Day Bill · reopening$30 B3.47×3.32×56.3 %35.9 %0.085 %not computed
15 Dec 202042-Day Bill · reopening$30 B3.21×2.76×56.2 %32.4 %0.075 %not computed
14 Dec 202026-Week Bill · reopening$51 B3.16×2.91×48.5 %46.2 %0.085 %not computed
14 Dec 202013-Week Bill · reopening$54 B2.90×2.81×48.7 %43.8 %0.075 %not computed
10 Dec 20204-Week Bill · reopening$30 B3.64×2.77×63.4 %29.0 %0.065 %not computed
10 Dec 20208-Week Bill · reopening$35 B3.38×2.82×52.2 %41.6 %0.075 %not computed
10 Dec 202029-Year 11-Month Bond · reopening$24 B2.48×2.42×17.4 %65.9 %1.665 %not computed
9 Dec 2020105-Day Bill · reopening$25 B3.70×3.86×57.1 %36.9 %0.085 %not computed
9 Dec 2020154-Day Bill$30 B3.51×3.46×56.5 %37.7 %0.090 %not computed
9 Dec 20209-Year 11-Month Note · reopening$38 B2.33×2.59×23.0 %62.3 %0.951 %not computed
8 Dec 202042-Day Bill · reopening$30 B3.81×2.76×48.9 %44.5 %0.070 %not computed
8 Dec 2020119-Day Bill · reopening$30 B3.58×3.32×52.4 %37.7 %0.080 %not computed
8 Dec 20203-Year Note$56 B2.28×2.65×34.9 %49.3 %0.211 %not computed
7 Dec 202013-Week Bill · reopening$54 B3.11×2.81×35.0 %52.1 %0.080 %not computed
7 Dec 202026-Week Bill$51 B3.32×2.91×30.4 %61.3 %0.090 %not computed
3 Dec 20204-Week Bill · reopening$30 B3.37×2.77×60.9 %31.6 %0.075 %not computed
3 Dec 20208-Week Bill · reopening$35 B3.35×2.82×38.0 %59.5 %0.075 %not computed
2 Dec 2020105-Day Bill · reopening$25 B3.94×3.86×47.2 %48.3 %0.085 %not computed
2 Dec 2020154-Day Bill$30 B3.84×3.46×43.7 %54.1 %0.090 %not computed

Older auctions →

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