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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-Year2.30×2.75×28 May 2019: 2.75×25 Jun 2019: 2.58×23 Jul 2019: 2.50×3-Year2.30×2.75×11 Jun 2019: 2.62×9 Jul 2019: 2.39×5-Year2.30×2.75×28 May 2019: 2.38×26 Jun 2019: 2.35×7-Year2.30×2.75×29 May 2019: 2.30×27 Jun 2019: 2.44×
Bid-to-cover per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
2-Year20 %34 %28 May 2019: 26 %25 Jun 2019: 27 %23 Jul 2019: 32 %3-Year20 %34 %11 Jun 2019: 30 %9 Jul 2019: 34 %5-Year20 %34 %28 May 2019: 24 %26 Jun 2019: 23 %7-Year20 %34 %29 May 2019: 30 %27 Jun 2019: 20 %
Dealer share per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
Auction results
DateSecuritySizeBid-to-cover12-meanDealersIndirectsHigh yieldTail
23 Jul 20192-Year Note$40 B2.50×2.81×31.6 %43.5 %1.825 %not computed
22 Jul 201913-Week Bill · reopening$36 B2.96×2.81×42.7 %53.5 %2.040 %not computed
22 Jul 201926-Week Bill$36 B2.69×2.91×70.8 %28.1 %2.010 %not computed
18 Jul 20194-Week Bill · reopening$35 B2.93×2.77×53.9 %42.8 %2.090 %not computed
18 Jul 20198-Week Bill$35 B2.45×2.82×61.0 %35.7 %2.120 %not computed
18 Jul 201910-Year Note (TIPS)$14 B2.28×2.44×17.1 %64.3 %0.282 %not computed
16 Jul 201952-Week Bill$26 B2.87×3.35×48.0 %48.9 %1.915 %not computed
15 Jul 201913-Week Bill · reopening$36 B2.88×2.81×54.8 %41.8 %2.115 %not computed
15 Jul 201926-Week Bill$36 B3.22×2.91×42.8 %55.1 %2.010 %not computed
11 Jul 20194-Week Bill · reopening$35 B3.04×2.77×42.7 %53.9 %2.135 %not computed
11 Jul 20198-Week Bill$35 B2.99×2.82×40.0 %56.9 %2.130 %not computed
11 Jul 201929-Year 10-Month Bond · reopening$16 B2.13×2.40×33.2 %50.0 %2.644 %not computed
10 Jul 20199-Year 10-Month Note · reopening$24 B2.41×2.47×26.4 %60.8 %2.064 %not computed
9 Jul 20193-Year Note$38 B2.39×2.65×33.6 %48.5 %1.857 %not computed
8 Jul 201913-Week Bill · reopening$36 B2.59×2.81×55.4 %42.8 %2.210 %not computed
8 Jul 201926-Week Bill$36 B2.95×2.91×44.9 %52.8 %2.075 %not computed
3 Jul 20194-Week Bill · reopening$40 B2.47×2.77×62.9 %32.4 %2.210 %not computed
3 Jul 20198-Week Bill$35 B2.76×2.82×40.3 %56.4 %2.155 %not computed
1 Jul 201926-Week Bill · reopening$36 B2.91×2.91×46.7 %51.3 %2.040 %not computed
1 Jul 201913-Week Bill · reopening$36 B2.66×2.81×46.6 %50.1 %2.145 %not computed
27 Jun 20194-Week Bill · reopening$40 B2.74×2.77×66.6 %29.3 %2.145 %not computed
27 Jun 20198-Week Bill$35 B3.17×2.82×42.0 %55.1 %2.120 %not computed
27 Jun 20197-Year Note$32 B2.44×2.48×20.3 %55.5 %1.889 %not computed
26 Jun 20191-Year 10-Month Note (FRN) · reopening$18 B3.36×2.99×31.5 %68.2 %—not computed
26 Jun 20195-Year Note$41 B2.35×2.35×23.2 %57.1 %1.791 %not computed
25 Jun 20192-Year Note$40 B2.58×2.81×27.3 %48.5 %1.695 %not computed
24 Jun 201913-Week Bill · reopening$36 B3.00×2.81×42.3 %53.3 %2.085 %not computed
24 Jun 201926-Week Bill$36 B2.69×2.91×63.6 %34.2 %2.030 %not computed
21 Jun 20199-Year 11-Month Note · reopening$25 M3.43×2.59×100.0 %0.0 %2.065 %not computed
20 Jun 20194-Week Bill · reopening$40 B2.86×2.77×60.8 %36.2 %2.140 %not computed
20 Jun 20198-Week Bill$35 B2.98×2.82×48.6 %48.2 %2.105 %not computed
20 Jun 20194-Year 10-Month Note (TIPS) · reopening$15 B2.55×2.55×13.4 %75.7 %0.152 %not computed
18 Jun 201952-Week Bill$26 B2.88×3.35×53.0 %45.4 %1.985 %not computed
17 Jun 201913-Week Bill · reopening$36 B2.84×2.81×59.4 %37.5 %2.170 %not computed
17 Jun 201926-Week Bill$36 B2.88×2.91×49.4 %48.9 %2.130 %not computed
13 Jun 20194-Week Bill · reopening$40 B2.88×2.77×65.3 %31.3 %2.215 %not computed
13 Jun 20198-Week Bill$35 B3.12×2.82×45.9 %52.3 %2.200 %not computed
13 Jun 201929-Year 11-Month Bond · reopening$16 B2.32×2.42×24.1 %60.8 %2.607 %not computed
12 Jun 20199-Year 11-Month Note · reopening$24 B2.49×2.59×20.8 %65.6 %2.130 %not computed
11 Jun 20193-Year Note$38 B2.62×2.65×30.0 %56.6 %1.861 %not computed
10 Jun 201913-Week Bill · reopening$36 B3.21×2.81×41.6 %51.6 %2.240 %not computed
10 Jun 201926-Week Bill$36 B2.98×2.91×55.3 %38.6 %2.140 %not computed
6 Jun 20194-Week Bill · reopening$40 B2.75×2.77×52.7 %44.6 %2.290 %not computed
6 Jun 20198-Week Bill$35 B2.73×2.82×64.4 %26.9 %2.300 %not computed
3 Jun 201926-Week Bill · reopening$36 B2.70×2.91×58.7 %39.1 %2.255 %not computed
3 Jun 201913-Week Bill · reopening$36 B2.59×2.81×62.2 %34.0 %2.300 %not computed
30 May 20194-Week Bill · reopening$40 B3.02×2.77×64.1 %31.9 %2.330 %not computed
30 May 20198-Week Bill$35 B2.74×2.82×73.1 %24.4 %2.330 %not computed
29 May 20191-Year 11-Month Note (FRN) · reopening$18 B2.84×3.02×57.3 %39.8 %—not computed
29 May 20197-Year Note$32 B2.30×2.48×30.5 %58.3 %2.144 %not computed
28 May 201913-Week Bill · reopening$36 B3.15×2.81×51.0 %45.1 %2.310 %not computed
28 May 201926-Week Bill$36 B2.91×2.91×53.4 %41.9 %2.320 %not computed
28 May 20192-Year Note$40 B2.75×2.81×26.2 %46.6 %2.125 %not computed
28 May 20195-Year Note · reopening$41 B2.38×2.35×24.2 %57.5 %2.065 %not computed
23 May 20194-Week Bill · reopening$45 B2.53×2.77×64.7 %33.6 %2.335 %not computed
23 May 20198-Week Bill$35 B2.53×2.82×80.3 %17.3 %2.330 %not computed
23 May 20199-Year 8-Month Note (TIPS) · reopening$11 B3.07×2.39×13.9 %57.0 %0.567 %not computed
21 May 201952-Week Bill$26 B2.95×3.35×48.6 %48.1 %2.280 %not computed
20 May 201913-Week Bill · reopening$36 B2.94×2.81×57.3 %39.3 %2.335 %not computed
20 May 201926-Week Bill$36 B2.82×2.91×59.3 %35.6 %2.340 %not computed

Older auctions →

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