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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-Year2.32×2.58×27 Jul 2020: 2.34×3-Year2.32×2.58×7 Jul 2020: 2.44×5-Year2.32×2.58×24 Jun 2020: 2.58×27 Jul 2020: 2.32×7-Year2.32×2.58×25 Jun 2020: 2.49×28 Jul 2020: 2.45×
Bid-to-cover per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
2-Year19 %39 %27 Jul 2020: 39 %3-Year19 %39 %7 Jul 2020: 32 %5-Year19 %39 %24 Jun 2020: 22 %27 Jul 2020: 30 %7-Year19 %39 %25 Jun 2020: 22 %28 Jul 2020: 19 %
Dealer share per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
Auction results
DateSecuritySizeBid-to-cover12-meanDealersIndirectsHigh yieldTail
3 Aug 202013-Week Bill · reopening$54 B2.80×2.81×52.7 %42.7 %0.100 %not computed
30 Jul 20204-Week Bill · reopening$30 B3.09×2.77×75.5 %19.9 %0.090 %not computed
30 Jul 20208-Week Bill · reopening$35 B2.96×2.82×61.5 %35.3 %0.095 %not computed
29 Jul 2020105-Day Bill · reopening$25 B3.53×3.86×52.4 %40.1 %0.105 %not computed
29 Jul 2020154-Day Bill$30 B3.48×3.46×44.8 %50.7 %0.110 %not computed
28 Jul 2020120-Day Bill · reopening$30 B3.40×3.40×59.1 %37.6 %0.110 %not computed
28 Jul 202042-Day Bill · reopening$30 B3.22×2.76×57.8 %35.4 %0.100 %not computed
28 Jul 20202-Year Note (FRN)$24 B3.29×2.81×33.2 %65.6 %—not computed
28 Jul 20207-Year Note$44 B2.45×2.48×19.3 %63.9 %0.446 %not computed
27 Jul 202013-Week Bill · reopening$54 B2.48×2.81×61.9 %31.3 %0.105 %not computed
27 Jul 202026-Week Bill · reopening$51 B2.92×2.91×44.0 %52.0 %0.130 %not computed
27 Jul 20205-Year Note$49 B2.32×2.35×29.6 %58.1 %0.288 %not computed
27 Jul 20202-Year Note$48 B2.34×2.81×39.3 %45.8 %0.155 %not computed
23 Jul 20204-Week Bill · reopening$30 B3.59×2.77×44.2 %53.5 %0.080 %not computed
23 Jul 20208-Week Bill · reopening$35 B2.85×2.82×74.5 %21.8 %0.100 %not computed
23 Jul 202010-Year Note (TIPS)$14 B2.24×2.44×17.8 %72.3 %−0.930 %not computed
22 Jul 2020105-Day Bill · reopening$25 B3.50×3.86×66.4 %26.9 %0.120 %not computed
22 Jul 2020154-Day Bill$30 B3.18×3.46×45.8 %52.1 %0.135 %not computed
22 Jul 202019-Year 10-Month Bond · reopening$17 B2.43×2.69×21.2 %67.0 %1.059 %not computed
21 Jul 2020273-Day Bill · reopening$20 B3.35×3.26×72.1 %23.4 %0.140 %not computed
21 Jul 2020119-Day Bill · reopening$30 B3.08×3.32×70.2 %24.7 %0.120 %not computed
21 Jul 202042-Day Bill · reopening$30 B3.34×2.76×53.0 %43.0 %0.100 %not computed
20 Jul 202013-Week Bill · reopening$54 B2.78×2.81×56.4 %39.3 %0.120 %not computed
20 Jul 202026-Week Bill$51 B2.97×2.91×43.4 %53.3 %0.130 %not computed
16 Jul 20204-Week Bill · reopening$35 B3.49×2.77×45.8 %51.8 %0.105 %not computed
16 Jul 20208-Week Bill · reopening$35 B3.22×2.82×62.7 %34.1 %0.110 %not computed
15 Jul 2020105-Day Bill · reopening$25 B3.95×3.86×53.5 %42.0 %0.130 %not computed
15 Jul 2020154-Day Bill$30 B3.40×3.46×57.6 %40.8 %0.145 %not computed
14 Jul 2020119-Day Bill · reopening$35 B3.21×3.32×55.1 %42.1 %0.145 %not computed
14 Jul 202052-Week Bill$34 B3.14×3.35×62.2 %26.1 %0.155 %not computed
14 Jul 202042-Day Bill · reopening$35 B3.25×2.76×39.9 %53.9 %0.120 %not computed
13 Jul 202013-Week Bill · reopening$54 B2.68×2.81×56.6 %38.7 %0.145 %not computed
13 Jul 202026-Week Bill$51 B3.17×2.91×39.4 %55.6 %0.145 %not computed
10 Jul 20204-Year 10-Month Note (TIPS) · reopening$25 M6.31×2.55×100.0 %0.0 %−0.951 %not computed
9 Jul 20204-Week Bill · reopening$40 B3.18×2.77×50.6 %44.1 %0.100 %not computed
9 Jul 20208-Week Bill · reopening$40 B2.96×2.82×68.4 %26.7 %0.120 %not computed
9 Jul 202029-Year 10-Month Bond · reopening$19 B2.50×2.40×17.5 %72.1 %1.330 %not computed
8 Jul 2020105-Day Bill · reopening$25 B3.68×3.86×58.4 %34.1 %0.145 %not computed
8 Jul 2020154-Day Bill$30 B3.33×3.46×53.7 %42.5 %0.155 %not computed
8 Jul 20209-Year 10-Month Note · reopening$29 B2.62×2.47×19.7 %63.4 %0.653 %not computed
7 Jul 2020119-Day Bill · reopening$35 B3.18×3.32×59.2 %37.0 %0.150 %not computed
7 Jul 202042-Day Bill · reopening$35 B3.32×2.76×45.0 %48.7 %0.125 %not computed
7 Jul 20203-Year Note$46 B2.44×2.65×32.5 %54.3 %0.190 %not computed
6 Jul 202026-Week Bill$51 B2.81×2.91×55.0 %42.2 %0.165 %not computed
6 Jul 202013-Week Bill · reopening$54 B2.66×2.81×56.9 %39.8 %0.150 %not computed
2 Jul 20204-Week Bill · reopening$45 B3.19×2.77×41.5 %57.8 %0.115 %not computed
2 Jul 20208-Week Bill · reopening$45 B2.91×2.82×51.2 %46.9 %0.135 %not computed
1 Jul 2020105-Day Bill · reopening$25 B3.91×3.86×63.7 %31.1 %0.140 %not computed
1 Jul 2020154-Day Bill$30 B3.18×3.46×64.5 %33.1 %0.155 %not computed
30 Jun 2020119-Day Bill · reopening$35 B3.17×3.32×53.3 %44.3 %0.155 %not computed
30 Jun 202042-Day Bill · reopening$35 B3.27×2.76×45.4 %51.4 %0.130 %not computed
29 Jun 202013-Week Bill · reopening$54 B2.86×2.81×59.2 %39.1 %0.150 %not computed
29 Jun 202026-Week Bill · reopening$51 B2.99×2.91×43.3 %54.3 %0.165 %not computed
25 Jun 20204-Week Bill · reopening$50 B3.07×2.77×45.4 %53.8 %0.110 %not computed
25 Jun 20208-Week Bill · reopening$50 B2.72×2.82×67.6 %29.7 %0.140 %not computed
25 Jun 20207-Year Note$41 B2.49×2.48×21.7 %62.6 %0.511 %not computed
24 Jun 2020105-Day Bill · reopening$30 B3.35×3.86×56.7 %38.2 %0.150 %not computed
24 Jun 2020154-Day Bill$35 B3.22×3.46×50.6 %46.6 %0.165 %not computed
24 Jun 20201-Year 10-Month Note (FRN) · reopening$20 B3.16×2.99×59.6 %20.8 %—not computed
24 Jun 20205-Year Note$47 B2.58×2.35×22.0 %62.3 %0.330 %not computed

Older auctions →

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