The Fiscal DeskFiscal policy. Monetary plumbing. Public data.
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-Year2.17×2.60×26 Mar 2019: 2.60×23 Apr 2019: 2.51×3-Year2.17×2.60×9 Apr 2019: 2.49×7 May 2019: 2.48×5-Year2.17×2.60×27 Mar 2019: 2.35×24 Apr 2019: 2.44×7-Year2.17×2.60×28 Mar 2019: 2.54×25 Apr 2019: 2.49×10-Year2.17×2.60×8 May 2019: 2.17×30-Year2.17×2.60×9 May 2019: 2.20×
Bid-to-cover per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
2-Year15 %42 %26 Mar 2019: 31 %23 Apr 2019: 36 %3-Year15 %42 %9 Apr 2019: 39 %7 May 2019: 42 %5-Year15 %42 %27 Mar 2019: 24 %24 Apr 2019: 23 %7-Year15 %42 %28 Mar 2019: 15 %25 Apr 2019: 21 %10-Year15 %42 %8 May 2019: 35 %30-Year15 %42 %9 May 2019: 29 %
Dealer share per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
Auction results
DateSecuritySizeBid-to-cover12-meanDealersIndirectsHigh yieldTail
16 May 20194-Week Bill · reopening$50 B2.85×2.77×56.0 %43.2 %2.365 %not computed
16 May 20198-Week Bill$35 B3.10×2.82×57.0 %42.1 %2.355 %not computed
13 May 201913-Week Bill · reopening$39 B3.52×2.81×42.4 %53.8 %2.360 %not computed
13 May 201926-Week Bill$36 B3.26×2.91×48.1 %42.7 %2.355 %not computed
9 May 20194-Week Bill · reopening$50 B2.83×2.77×56.8 %40.8 %2.385 %not computed
9 May 20198-Week Bill$35 B3.05×2.82×58.3 %39.0 %2.380 %not computed
9 May 201930-Year Bond$19 B2.20×2.43×28.5 %60.5 %2.892 %not computed
8 May 201910-Year Note$27 B2.17×2.44×35.2 %53.3 %2.479 %not computed
7 May 20193-Year Note$38 B2.48×2.65×42.0 %37.9 %2.248 %not computed
6 May 201926-Week Bill · reopening$36 B3.21×2.91×39.4 %52.3 %2.380 %not computed
6 May 201913-Week Bill · reopening$39 B3.17×2.81×49.7 %44.4 %2.380 %not computed
2 May 201937-Day Bill · reopening$20 B3.27×3.08×64.4 %30.7 %2.385 %not computed
2 May 20194-Week Bill · reopening$50 B2.70×2.77×56.1 %40.7 %2.390 %not computed
2 May 20198-Week Bill$35 B2.70×2.82×66.9 %29.6 %2.390 %not computed
29 Apr 201913-Week Bill · reopening$39 B3.08×2.81×47.1 %49.4 %2.385 %not computed
29 Apr 201926-Week Bill$36 B3.01×2.91×55.6 %41.6 %2.395 %not computed
25 Apr 20194-Week Bill · reopening$50 B2.72×2.77×56.3 %42.0 %2.390 %not computed
25 Apr 20198-Week Bill$35 B3.29×2.82×56.1 %41.5 %2.380 %not computed
25 Apr 20197-Year Note$32 B2.49×2.48×20.6 %60.4 %2.426 %not computed
24 Apr 20192-Year Note (FRN)$20 B2.68×2.81×60.2 %38.5 %—not computed
24 Apr 20195-Year Note$41 B2.44×2.35×23.3 %61.5 %2.315 %not computed
23 Apr 201952-Week Bill$26 B3.44×3.35×33.7 %64.5 %2.360 %not computed
23 Apr 20192-Year Note · reopening$40 B2.51×2.81×36.5 %47.7 %2.355 %not computed
22 Apr 201913-Week Bill · reopening$42 B2.91×2.81×52.9 %43.7 %2.400 %not computed
22 Apr 201926-Week Bill$36 B3.26×2.91×37.0 %56.5 %2.400 %not computed
18 Apr 20194-Week Bill · reopening$50 B2.61×2.77×53.0 %45.1 %2.400 %not computed
18 Apr 20198-Week Bill$35 B2.95×2.82×61.1 %36.4 %2.390 %not computed
18 Apr 20195-Year Note (TIPS)$17 B2.50×2.35×15.8 %75.4 %0.515 %not computed
15 Apr 201913-Week Bill · reopening$42 B2.81×2.81×55.4 %41.9 %2.380 %not computed
15 Apr 201926-Week Bill$36 B3.09×2.91×61.8 %34.9 %2.390 %not computed
11 Apr 20194-Week Bill · reopening$50 B2.88×2.77×51.8 %45.7 %2.375 %not computed
11 Apr 20198-Week Bill$35 B2.99×2.82×66.3 %30.6 %2.375 %not computed
11 Apr 201929-Year 10-Month Bond · reopening$16 B2.25×2.40×25.1 %60.5 %2.930 %not computed
10 Apr 20199-Year 10-Month Note · reopening$24 B2.55×2.47×19.6 %68.4 %2.466 %not computed
9 Apr 20193-Year Note$38 B2.49×2.65×38.6 %42.7 %2.301 %not computed
8 Apr 201926-Week Bill · reopening$36 B3.14×2.91×61.3 %29.5 %2.395 %not computed
8 Apr 201913-Week Bill · reopening$42 B3.07×2.81×55.7 %40.1 %2.375 %not computed
4 Apr 20194-Week Bill · reopening$50 B2.96×2.77×51.8 %45.5 %2.390 %not computed
4 Apr 20198-Week Bill$35 B3.35×2.82×54.7 %42.1 %2.380 %not computed
1 Apr 201913-Week Bill · reopening$45 B2.68×2.81×60.9 %35.6 %2.380 %not computed
1 Apr 201926-Week Bill$39 B2.92×2.91×53.9 %34.3 %2.380 %not computed
28 Mar 20194-Week Bill · reopening$50 B3.01×2.77×35.8 %61.2 %2.400 %not computed
28 Mar 20198-Week Bill$35 B3.11×2.82×51.6 %44.6 %2.395 %not computed
28 Mar 20197-Year Note$32 B2.54×2.48×14.8 %64.5 %2.281 %not computed
27 Mar 20191-Year 10-Month Note (FRN) · reopening$18 B3.78×2.99×46.0 %53.5 %—not computed
27 Mar 20195-Year Note · reopening$41 B2.35×2.35×23.8 %59.0 %2.172 %not computed
26 Mar 201952-Week Bill$26 B3.69×3.35×48.6 %44.1 %2.360 %not computed
26 Mar 20192-Year Note · reopening$40 B2.60×2.81×30.7 %56.0 %2.261 %not computed
25 Mar 201913-Week Bill · reopening$48 B2.87×2.81×42.2 %54.9 %2.410 %not computed
25 Mar 201926-Week Bill$39 B2.88×2.91×60.2 %38.1 %2.415 %not computed
21 Mar 20194-Week Bill · reopening$60 B2.30×2.77×66.7 %31.5 %2.470 %not computed
21 Mar 20198-Week Bill$35 B2.89×2.82×48.9 %49.7 %2.420 %not computed
21 Mar 20199-Year 10-Month Note (TIPS) · reopening$11 B2.43×2.47×17.4 %77.0 %0.578 %not computed
18 Mar 201913-Week Bill · reopening$48 B2.70×2.81×46.0 %50.7 %2.410 %not computed
18 Mar 201926-Week Bill$39 B2.86×2.91×60.3 %36.9 %2.450 %not computed
14 Mar 20194-Week Bill · reopening$60 B2.43×2.77×78.0 %19.9 %2.420 %not computed
14 Mar 20198-Week Bill$35 B3.09×2.82×52.7 %44.8 %2.400 %not computed
13 Mar 201929-Year 11-Month Bond · reopening$16 B2.25×2.42×28.1 %57.8 %3.014 %not computed
12 Mar 20199-Year 11-Month Note · reopening$24 B2.59×2.59×21.5 %69.4 %2.615 %not computed
11 Mar 201926-Week Bill · reopening$39 B3.09×2.91×52.1 %43.9 %2.455 %not computed

Older auctions →

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