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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-Year2.30×3.10×27 Apr 2020: 3.10×3-Year2.30×3.10×11 May 2020: 2.54×5-Year2.30×3.10×27 Apr 2020: 2.74×7-Year2.30×3.10×28 Apr 2020: 2.56×10-Year2.30×3.10×12 May 2020: 2.69×30-Year2.30×3.10×13 May 2020: 2.30×
Bid-to-cover per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
2-Year19 %33 %27 Apr 2020: 26 %3-Year19 %33 %11 May 2020: 33 %5-Year19 %33 %27 Apr 2020: 19 %7-Year19 %33 %28 Apr 2020: 21 %10-Year19 %33 %12 May 2020: 21 %30-Year19 %33 %13 May 2020: 21 %
Dealer share per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
Auction results
DateSecuritySizeBid-to-cover12-meanDealersIndirectsHigh yieldTail
14 May 20204-Week Bill · reopening$80 B2.93×2.77×41.1 %57.5 %0.090 %not computed
14 May 20208-Week Bill · reopening$70 B2.90×2.82×41.5 %56.8 %0.110 %not computed
13 May 2020105-Day Bill$35 B3.51×3.86×53.6 %43.9 %0.140 %not computed
13 May 2020154-Day Bill$40 B2.97×3.46×51.8 %38.1 %0.155 %not computed
13 May 202030-Year Bond$22 B2.30×2.43×21.4 %65.7 %1.342 %not computed
12 May 2020119-Day Bill · reopening$35 B3.38×3.32×44.5 %52.6 %0.145 %not computed
12 May 202042-Day Bill · reopening$65 B2.93×2.76×42.6 %54.0 %0.110 %not computed
12 May 202010-Year Note$32 B2.69×2.44×20.5 %66.2 %0.700 %not computed
11 May 202026-Week Bill$54 B2.97×2.91×42.0 %52.4 %0.155 %not computed
11 May 202013-Week Bill · reopening$63 B2.97×2.81×40.1 %56.7 %0.125 %not computed
11 May 20203-Year Note$42 B2.54×2.65×32.6 %54.4 %0.230 %not computed
7 May 20204-Week Bill · reopening$80 B2.87×2.77×35.4 %63.7 %0.095 %not computed
7 May 20208-Week Bill$70 B2.89×2.82×35.5 %63.3 %0.110 %not computed
7 May 2020105-Day Bill$30 B3.00×3.86×49.4 %47.1 %0.125 %not computed
6 May 2020154-Day Bill$35 B2.91×3.46×58.8 %39.2 %0.150 %not computed
5 May 202042-Day Bill · reopening$65 B2.74×2.76×40.2 %58.1 %0.115 %not computed
5 May 2020119-Day Bill · reopening$30 B3.38×3.32×48.1 %50.4 %0.130 %not computed
4 May 2020105-Day Bill$30 B3.35×3.86×57.5 %40.6 %0.115 %not computed
4 May 202026-Week Bill · reopening$51 B2.99×2.91×45.9 %47.8 %0.130 %not computed
4 May 202013-Week Bill · reopening$60 B3.00×2.81×48.8 %49.8 %0.110 %not computed
30 Apr 20204-Week Bill · reopening$90 B2.75×2.77×37.5 %61.0 %0.095 %not computed
30 Apr 20208-Week Bill$70 B3.07×2.82×38.6 %59.8 %0.095 %not computed
30 Apr 2020154-Day Bill$30 B2.90×3.46×55.7 %40.6 %0.140 %not computed
29 Apr 2020103-Day Bill$30 B3.05×3.06×50.3 %47.9 %0.115 %not computed
29 Apr 2020273-Day Bill · reopening$25 B2.98×3.26×67.5 %27.7 %0.165 %not computed
29 Apr 2020119-Day Bill · reopening$25 B3.50×3.32×52.0 %45.3 %0.110 %not computed
28 Apr 202043-Day Bill · reopening$55 B3.22×3.03×43.0 %56.3 %0.085 %not computed
28 Apr 20202-Year Note (FRN)$22 B3.02×2.81×31.5 %51.4 %—not computed
28 Apr 20207-Year Note$35 B2.56×2.48×21.3 %66.5 %0.525 %not computed
27 Apr 202026-Week Bill$48 B3.25×2.91×48.2 %49.7 %0.150 %not computed
27 Apr 202013-Week Bill · reopening$57 B3.04×2.81×48.6 %49.2 %0.120 %not computed
27 Apr 20205-Year Note$43 B2.74×2.35×19.4 %60.5 %0.394 %not computed
27 Apr 20202-Year Note$42 B3.10×2.81×26.4 %55.8 %0.229 %not computed
23 Apr 20204-Week Bill · reopening$90 B2.92×2.77×37.3 %60.1 %0.090 %not computed
23 Apr 20208-Week Bill · reopening$70 B2.53×2.82×55.8 %41.0 %0.120 %not computed
23 Apr 20205-Year Note (TIPS)$17 B2.74×2.35×14.3 %82.7 %−0.320 %not computed
22 Apr 2020103-Day Bill$30 B3.10×3.06×52.7 %45.6 %0.105 %not computed
22 Apr 2020154-Day Bill$30 B3.08×3.46×54.5 %43.4 %0.135 %not computed
21 Apr 202052-Week Bill$28 B3.38×3.35×49.4 %42.8 %0.165 %not computed
21 Apr 2020119-Day Bill · reopening$25 B3.51×3.32×56.1 %30.6 %0.110 %not computed
20 Apr 202026-Week Bill$48 B3.17×2.91×44.1 %53.7 %0.145 %not computed
20 Apr 202043-Day Bill · reopening$65 B2.89×3.03×42.7 %56.8 %0.120 %not computed
20 Apr 202013-Week Bill · reopening$57 B2.93×2.81×50.6 %45.5 %0.125 %not computed
16 Apr 20204-Week Bill · reopening$90 B2.90×2.77×36.9 %58.8 %0.150 %not computed
16 Apr 20208-Week Bill · reopening$70 B3.03×2.82×32.4 %65.0 %0.150 %not computed
15 Apr 2020103-Day Bill$30 B3.32×3.06×49.4 %48.9 %0.165 %not computed
15 Apr 2020154-Day Bill$30 B3.14×3.46×49.5 %41.6 %0.190 %not computed
14 Apr 2020119-Day Bill · reopening$25 B4.13×3.32×47.2 %33.0 %0.220 %not computed
14 Apr 202043-Day Bill · reopening$65 B3.12×3.03×27.7 %63.3 %0.190 %not computed
13 Apr 202026-Week Bill$48 B3.08×2.91×53.7 %45.2 %0.290 %not computed
13 Apr 202069-Day Bill$35 B3.22×2.93×44.8 %51.6 %0.270 %not computed
13 Apr 202013-Week Bill · reopening$57 B3.10×2.81×49.7 %43.1 %0.280 %not computed
9 Apr 20204-Week Bill · reopening$90 B2.84×2.77×25.7 %69.5 %0.190 %not computed
9 Apr 20208-Week Bill · reopening$70 B2.56×2.82×53.2 %39.8 %0.290 %not computed
8 Apr 202040-Day Bill · reopening$45 B2.65×3.21×49.0 %45.5 %0.160 %not computed
8 Apr 2020103-Day Bill$40 B2.79×3.06×36.2 %62.1 %0.200 %not computed
8 Apr 2020154-Day Bill$40 B2.60×3.46×55.0 %43.5 %0.250 %not computed
8 Apr 202029-Year 10-Month Bond · reopening$17 B2.35×2.40×22.6 %66.4 %1.325 %not computed
7 Apr 202069-Day Bill$45 B2.71×2.93×52.9 %46.2 %0.135 %not computed
7 Apr 2020119-Day Bill · reopening$40 B2.74×3.32×47.9 %49.9 %0.180 %not computed

Older auctions →

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