The Fiscal DeskFiscal policy. Monetary plumbing. Public data.
Independent research desk
Frameworks by James Lavish / Independent & unaffiliatedLast data check Fri 6 Nov 2026, 9:15 am 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-Year2.28×2.71×27 Jul 2026: 2.66×25 Aug 2026: 2.60×3-Year2.28×2.71×11 Aug 2026: 2.71×5-Year2.28×2.71×27 Jul 2026: 2.28×26 Aug 2026: 2.37×7-Year2.28×2.71×28 Jul 2026: 2.49×27 Aug 2026: 2.50×10-Year2.28×2.71×12 Aug 2026: 2.53×20-Year2.28×2.71×19 Aug 2026: 2.53×30-Year2.28×2.71×13 Aug 2026: 2.39×
Bid-to-cover per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
2-Year9 %14 %27 Jul 2026: 9 %25 Aug 2026: 11 %3-Year9 %14 %11 Aug 2026: 12 %5-Year9 %14 %27 Jul 2026: 14 %26 Aug 2026: 10 %7-Year9 %14 %28 Jul 2026: 13 %27 Aug 2026: 12 %10-Year9 %14 %12 Aug 2026: 9 %20-Year9 %14 %19 Aug 2026: 12 %30-Year9 %14 %13 Aug 2026: 12 %
Dealer share per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
Auction results
DateSecuritySizeBid-to-cover12-meanDealersIndirectsHigh yieldTail
31 Aug 202626-Week Bill$79 B2.63×2.84×43.4 %47.3 %3.885 %not computed
27 Aug 20264-Week Bill · reopening$100 B2.73×2.75×31.5 %66.0 %3.650 %not computed
27 Aug 20268-Week Bill · reopening$90 B2.77×2.79×39.3 %57.3 %3.670 %not computed
27 Aug 20267-Year Note$44 B2.50×2.48×12.3 %60.8 %4.512 %not computed
26 Aug 202617-Week Bill$72 B3.09×2.97×32.6 %60.3 %3.750 %not computed
26 Aug 20261-Year 11-Month Note (FRN) · reopening$28 B3.14×3.02×33.1 %66.6 %—not computed
26 Aug 20265-Year Note$70 B2.37×2.35×10.1 %61.5 %4.393 %not computed
25 Aug 20266-Week Bill · reopening$95 B2.71×2.88×33.1 %65.2 %3.650 %not computed
25 Aug 20262-Year Note$69 B2.60×2.81×10.9 %66.0 %4.204 %not computed
24 Aug 202613-Week Bill · reopening$92 B3.08×2.79×32.9 %59.2 %3.715 %not computed
24 Aug 202626-Week Bill$79 B3.05×2.84×28.6 %60.2 %3.790 %not computed
20 Aug 20264-Week Bill · reopening$110 B2.84×2.75×31.3 %65.5 %3.640 %not computed
20 Aug 20268-Week Bill · reopening$100 B3.06×2.79×30.7 %66.7 %3.655 %not computed
20 Aug 202629-Year 6-Month Bond (TIPS) · reopening$8 B2.82×2.58×2.1 %84.5 %2.973 %not computed
19 Aug 202617-Week Bill$72 B3.35×2.97×32.9 %60.8 %3.750 %not computed
19 Aug 202620-Year Bond$16 B2.53×2.47×12.5 %62.9 %5.204 %not computed
18 Aug 20266-Week Bill · reopening$95 B2.97×2.88×29.7 %65.5 %3.645 %not computed
17 Aug 202626-Week Bill · reopening$79 B2.97×2.84×24.7 %64.9 %3.780 %not computed
17 Aug 202613-Week Bill · reopening$92 B2.86×2.79×39.4 %53.8 %3.715 %not computed
13 Aug 20264-Week Bill · reopening$110 B2.77×2.75×35.0 %57.1 %3.625 %not computed
13 Aug 20268-Week Bill · reopening$100 B2.85×2.79×37.4 %56.5 %3.665 %not computed
13 Aug 202630-Year Bond$25 B2.39×2.43×11.5 %66.9 %5.216 %not computed
12 Aug 202617-Week Bill$72 B3.16×2.97×31.1 %62.3 %3.755 %not computed
12 Aug 202610-Year Note$42 B2.53×2.44×8.6 %76.7 %4.683 %not computed
11 Aug 20266-Week Bill · reopening$95 B2.93×2.88×25.6 %71.3 %3.670 %not computed
11 Aug 20263-Year Note$58 B2.71×2.65×11.7 %64.2 %4.291 %not computed
10 Aug 202613-Week Bill · reopening$92 B2.88×2.79×36.0 %57.2 %3.735 %not computed
10 Aug 202626-Week Bill$79 B2.85×2.84×36.7 %54.5 %3.830 %not computed
6 Aug 20264-Week Bill · reopening$110 B2.68×2.75×40.1 %55.8 %3.640 %not computed
6 Aug 20268-Week Bill · reopening$100 B2.74×2.79×39.3 %54.4 %3.710 %not computed
5 Aug 202617-Week Bill$72 B3.19×2.97×29.3 %64.6 %3.785 %not computed
4 Aug 20266-Week Bill · reopening$95 B2.93×2.88×34.8 %61.4 %3.640 %not computed
4 Aug 202652-Week Bill$52 B3.62×3.34×27.0 %70.8 %3.880 %not computed
3 Aug 202613-Week Bill · reopening$92 B2.61×2.79×39.5 %54.1 %3.750 %not computed
3 Aug 202626-Week Bill$79 B2.98×2.84×32.7 %57.0 %3.855 %not computed
30 Jul 20264-Week Bill · reopening$110 B2.80×2.75×31.0 %65.0 %3.630 %not computed
30 Jul 20268-Week Bill · reopening$100 B2.74×2.79×33.1 %62.9 %3.675 %not computed
29 Jul 202617-Week Bill$72 B3.04×2.97×33.9 %57.7 %3.875 %not computed
29 Jul 20262-Year Note (FRN)$30 B3.37×2.81×36.8 %63.2 %—not computed
28 Jul 20266-Week Bill · reopening$95 B2.93×2.88×22.8 %72.7 %3.700 %not computed
28 Jul 20267-Year Note$44 B2.49×2.48×13.0 %70.2 %4.473 %not computed
27 Jul 202613-Week Bill · reopening$92 B3.06×2.79×27.2 %66.9 %3.815 %not computed
27 Jul 202626-Week Bill$79 B3.12×2.84×29.6 %59.8 %3.945 %not computed
27 Jul 20265-Year Note$70 B2.28×2.35×13.5 %59.2 %4.408 %not computed
27 Jul 20262-Year Note$69 B2.66×2.81×9.4 %56.6 %4.315 %not computed
23 Jul 20264-Week Bill · reopening$110 B2.79×2.75×29.8 %65.5 %3.730 %not computed
23 Jul 20268-Week Bill · reopening$100 B2.31×2.79×55.7 %39.7 %3.795 %not computed
23 Jul 202610-Year Note (TIPS)$21 B2.30×2.44×9.9 %65.2 %2.438 %not computed
22 Jul 202617-Week Bill$72 B2.76×2.97×41.3 %53.1 %3.845 %not computed
22 Jul 202619-Year 10-Month Bond · reopening$13 B2.64×2.69×14.7 %69.1 %5.163 %not computed
21 Jul 20266-Week Bill · reopening$95 B2.79×2.88×26.4 %71.0 %3.650 %not computed
20 Jul 202626-Week Bill · reopening$79 B2.94×2.84×30.6 %58.4 %3.835 %not computed
20 Jul 202613-Week Bill · reopening$92 B3.00×2.79×37.4 %55.8 %3.730 %not computed
16 Jul 20264-Week Bill · reopening$110 B2.57×2.75×40.8 %53.7 %3.660 %not computed
16 Jul 20268-Week Bill · reopening$100 B2.84×2.79×28.4 %67.7 %3.650 %not computed
15 Jul 202617-Week Bill$72 B3.35×2.97×33.8 %60.0 %3.745 %not computed
14 Jul 20266-Week Bill · reopening$95 B2.84×2.88×25.9 %72.4 %3.640 %not computed
13 Jul 202613-Week Bill · reopening$92 B2.84×2.79×35.0 %56.8 %3.760 %not computed
13 Jul 202626-Week Bill$79 B3.11×2.84×25.4 %66.5 %3.860 %not computed
9 Jul 20264-Week Bill · reopening$100 B2.64×2.75×38.8 %56.6 %3.630 %not computed

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