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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-Year2.28×2.68×26 May 2020: 2.68×23 Jun 2020: 2.46×3-Year2.28×2.68×8 Jun 2020: 2.55×5-Year2.28×2.68×27 May 2020: 2.28×7-Year2.28×2.68×28 May 2020: 2.55×20-Year2.28×2.68×20 May 2020: 2.53×
Bid-to-cover per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
2-Year24 %32 %26 May 2020: 32 %23 Jun 2020: 31 %3-Year24 %32 %8 Jun 2020: 32 %5-Year24 %32 %27 May 2020: 32 %7-Year24 %32 %28 May 2020: 24 %20-Year24 %32 %20 May 2020: 25 %
Dealer share per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
Auction results
DateSecuritySizeBid-to-cover12-meanDealersIndirectsHigh yieldTail
23 Jun 2020273-Day Bill · reopening$20 B3.53×3.26×71.7 %20.0 %0.180 %not computed
23 Jun 2020119-Day Bill · reopening$40 B3.33×3.32×51.1 %46.8 %0.155 %not computed
23 Jun 202042-Day Bill · reopening$40 B3.20×2.76×44.7 %50.6 %0.125 %not computed
23 Jun 20202-Year Note$46 B2.46×2.81×31.2 %52.0 %0.193 %not computed
22 Jun 202013-Week Bill · reopening$57 B2.69×2.81×60.5 %35.8 %0.155 %not computed
22 Jun 202026-Week Bill$54 B2.94×2.91×51.0 %45.2 %0.175 %not computed
18 Jun 20204-Week Bill · reopening$60 B2.89×2.77×44.6 %50.8 %0.125 %not computed
18 Jun 20208-Week Bill · reopening$55 B2.92×2.82×41.6 %51.0 %0.135 %not computed
18 Jun 20204-Year 10-Month Note (TIPS) · reopening$15 B2.78×2.55×15.1 %70.3 %−0.766 %not computed
17 Jun 2020105-Day Bill · reopening$35 B3.25×3.86×47.6 %50.7 %0.170 %not computed
17 Jun 2020154-Day Bill$40 B3.22×3.46×49.6 %48.8 %0.185 %not computed
17 Jun 202019-Year 11-Month Bond · reopening$17 B2.63×2.67×21.9 %61.6 %1.314 %not computed
16 Jun 2020119-Day Bill · reopening$40 B3.37×3.32×57.5 %40.6 %0.180 %not computed
16 Jun 202052-Week Bill$34 B2.91×3.35×76.0 %17.9 %0.200 %not computed
16 Jun 202042-Day Bill · reopening$50 B2.82×2.76×56.5 %41.4 %0.150 %not computed
15 Jun 202013-Week Bill · reopening$60 B2.96×2.81×43.7 %44.2 %0.175 %not computed
15 Jun 202026-Week Bill$54 B2.93×2.91×53.2 %42.6 %0.185 %not computed
11 Jun 20204-Week Bill · reopening$70 B2.99×2.77×39.5 %57.6 %0.130 %not computed
11 Jun 20208-Week Bill · reopening$60 B2.86×2.82×41.8 %46.6 %0.155 %not computed
11 Jun 202029-Year 11-Month Bond · reopening$19 B2.30×2.42×24.6 %62.2 %1.450 %not computed
10 Jun 2020105-Day Bill · reopening$35 B3.50×3.86×53.7 %44.9 %0.180 %not computed
10 Jun 2020154-Day Bill$40 B2.95×3.46×51.8 %47.1 %0.190 %not computed
9 Jun 2020119-Day Bill · reopening$40 B3.30×3.32×44.4 %44.7 %0.185 %not computed
9 Jun 202042-Day Bill · reopening$60 B2.70×2.76×47.1 %42.2 %0.165 %not computed
9 Jun 20209-Year 11-Month Note · reopening$29 B2.26×2.59×31.5 %56.7 %0.832 %not computed
8 Jun 202026-Week Bill$54 B3.01×2.91×44.3 %51.6 %0.185 %not computed
8 Jun 202013-Week Bill · reopening$63 B2.71×2.81×53.8 %38.9 %0.170 %not computed
8 Jun 20203-Year Note$44 B2.55×2.65×32.2 %53.3 %0.280 %not computed
4 Jun 20204-Week Bill · reopening$80 B2.77×2.77×44.3 %53.2 %0.125 %not computed
4 Jun 20208-Week Bill · reopening$70 B2.60×2.82×53.7 %43.1 %0.145 %not computed
3 Jun 2020105-Day Bill · reopening$40 B3.25×3.86×40.2 %58.8 %0.170 %not computed
3 Jun 2020154-Day Bill$40 B3.11×3.46×39.8 %56.4 %0.180 %not computed
2 Jun 2020119-Day Bill · reopening$40 B3.10×3.32×44.5 %48.6 %0.165 %not computed
2 Jun 202042-Day Bill · reopening$65 B2.83×2.76×41.7 %55.6 %0.135 %not computed
1 Jun 202026-Week Bill · reopening$54 B2.72×2.91×65.5 %29.1 %0.170 %not computed
1 Jun 202013-Week Bill · reopening$63 B2.94×2.81×45.3 %52.3 %0.150 %not computed
28 May 20204-Week Bill · reopening$80 B2.55×2.77×45.7 %51.3 %0.130 %not computed
28 May 20208-Week Bill · reopening$70 B2.87×2.82×34.9 %64.1 %0.135 %not computed
28 May 2020154-Day Bill$40 B3.16×3.46×39.4 %57.0 %0.170 %not computed
28 May 20207-Year Note$38 B2.55×2.48×24.0 %63.6 %0.553 %not computed
27 May 2020119-Day Bill · reopening$40 B2.75×3.32×67.6 %29.7 %0.170 %not computed
27 May 2020105-Day Bill · reopening$40 B3.06×3.86×36.3 %62.6 %0.165 %not computed
27 May 2020273-Day Bill · reopening$25 B3.17×3.26×75.5 %17.1 %0.180 %not computed
27 May 20201-Year 11-Month Note (FRN) · reopening$20 B3.12×3.02×46.2 %33.7 %—not computed
27 May 20205-Year Note$45 B2.28×2.35×31.8 %57.3 %0.334 %not computed
26 May 202026-Week Bill$54 B3.00×2.91×48.3 %44.7 %0.160 %not computed
26 May 202042-Day Bill · reopening$65 B2.83×2.76×38.4 %60.6 %0.120 %not computed
26 May 202013-Week Bill · reopening$63 B2.88×2.81×45.7 %51.9 %0.130 %not computed
26 May 20202-Year Note$44 B2.68×2.81×32.1 %53.1 %0.178 %not computed
21 May 20204-Week Bill · reopening$80 B2.75×2.77×45.8 %51.7 %0.090 %not computed
21 May 20208-Week Bill · reopening$70 B2.65×2.82×50.7 %46.6 %0.105 %not computed
21 May 20209-Year 8-Month Note (TIPS) · reopening$12 B2.39×2.39×30.1 %62.1 %−0.470 %not computed
20 May 2020105-Day Bill · reopening$40 B3.04×3.86×51.6 %46.0 %0.140 %not computed
20 May 2020154-Day Bill$40 B2.93×3.46×57.5 %36.5 %0.150 %not computed
20 May 202020-Year Bond$20 B2.53×2.47×24.6 %60.7 %1.220 %not computed
19 May 2020119-Day Bill · reopening$40 B3.10×3.32×57.0 %39.5 %0.140 %not computed
19 May 202052-Week Bill$31 B3.30×3.35×48.6 %42.0 %0.160 %not computed
19 May 202042-Day Bill · reopening$65 B2.90×2.76×38.1 %60.3 %0.105 %not computed
18 May 202026-Week Bill$54 B3.13×2.91×45.9 %43.2 %0.150 %not computed
18 May 202013-Week Bill · reopening$63 B2.91×2.81×48.9 %46.2 %0.130 %not computed

Older auctions →

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