The Fiscal DeskFiscal policy. Monetary plumbing. Public data.
Independent research desk
Frameworks by James Lavish / Independent & unaffiliatedData as of Tue 22 Sept 2026, 1:16 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-Year2.28×2.71×23 Jun 2026: 2.64×27 Jul 2026: 2.66×3-Year2.28×2.71×7 Jul 2026: 2.60×11 Aug 2026: 2.71×5-Year2.28×2.71×24 Jun 2026: 2.35×27 Jul 2026: 2.28×7-Year2.28×2.71×25 Jun 2026: 2.50×28 Jul 2026: 2.49×10-Year2.28×2.71×12 Aug 2026: 2.53×
Bid-to-cover per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
2-Year8 %14 %23 Jun 2026: 10 %27 Jul 2026: 9 %3-Year8 %14 %7 Jul 2026: 8 %11 Aug 2026: 12 %5-Year8 %14 %24 Jun 2026: 13 %27 Jul 2026: 14 %7-Year8 %14 %25 Jun 2026: 13 %28 Jul 2026: 13 %10-Year8 %14 %12 Aug 2026: 9 %
Dealer share per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
Auction results
DateSecuritySizeBid-to-cover12-meanDealersIndirectsHigh yieldTail
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 B2.93×2.87×25.6 %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 B2.88×2.81×36.0 %57.2 %3.735 %not computed
10 Aug 202626-Week Bill$79 B2.85×2.91×36.7 %54.5 %3.830 %not computed
6 Aug 20264-Week Bill · reopening$110 B2.68×2.78×40.1 %55.8 %3.640 %not computed
6 Aug 20268-Week Bill · reopening$100 B2.74×2.81×39.3 %54.4 %3.710 %not computed
5 Aug 202617-Week Bill$72 B3.19×3.02×29.3 %64.6 %3.785 %not computed
4 Aug 20266-Week Bill · reopening$95 B2.93×2.87×34.8 %61.4 %3.640 %not computed
4 Aug 202652-Week Bill$52 B3.62×3.35×27.0 %70.8 %3.880 %not computed
3 Aug 202613-Week Bill · reopening$92 B2.61×2.81×39.5 %54.1 %3.750 %not computed
3 Aug 202626-Week Bill$79 B2.98×2.91×32.7 %57.0 %3.855 %not computed
30 Jul 20264-Week Bill · reopening$110 B2.80×2.78×31.0 %65.0 %3.630 %not computed
30 Jul 20268-Week Bill · reopening$100 B2.74×2.81×33.1 %62.9 %3.675 %not computed
29 Jul 202617-Week Bill$72 B3.04×3.02×33.9 %57.7 %3.875 %not computed
29 Jul 20262-Year Note (FRN)$30 B3.37×2.80×36.8 %63.2 %—not computed
28 Jul 20266-Week Bill · reopening$95 B2.93×2.87×22.8 %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 B3.06×2.81×27.2 %66.9 %3.815 %not computed
27 Jul 202626-Week Bill$79 B3.12×2.91×29.6 %59.8 %3.945 %not computed
27 Jul 20265-Year Note$70 B2.28×2.36×13.5 %59.2 %4.408 %not computed
27 Jul 20262-Year Note$69 B2.66×2.80×9.4 %56.6 %4.315 %not computed
23 Jul 20264-Week Bill · reopening$110 B2.79×2.78×29.8 %65.5 %3.730 %not computed
23 Jul 20268-Week Bill · reopening$100 B2.31×2.81×55.7 %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 B2.76×3.02×41.3 %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 B2.79×2.87×26.4 %71.0 %3.650 %not computed
20 Jul 202626-Week Bill · reopening$79 B2.94×2.91×30.6 %58.4 %3.835 %not computed
20 Jul 202613-Week Bill · reopening$92 B3.00×2.81×37.4 %55.8 %3.730 %not computed
16 Jul 20264-Week Bill · reopening$110 B2.57×2.78×40.8 %53.7 %3.660 %not computed
16 Jul 20268-Week Bill · reopening$100 B2.84×2.81×28.4 %67.7 %3.650 %not computed
15 Jul 202617-Week Bill$72 B3.35×3.02×33.8 %60.0 %3.745 %not computed
14 Jul 20266-Week Bill · reopening$95 B2.84×2.87×25.9 %72.4 %3.640 %not computed
13 Jul 202613-Week Bill · reopening$92 B2.84×2.81×35.0 %56.8 %3.760 %not computed
13 Jul 202626-Week Bill$79 B3.11×2.91×25.4 %66.5 %3.860 %not computed
9 Jul 20264-Week Bill · reopening$100 B2.64×2.78×38.8 %56.6 %3.630 %not computed
9 Jul 20268-Week Bill · reopening$95 B2.95×2.81×21.0 %74.6 %3.635 %not computed
9 Jul 202629-Year 10-Month Bond · reopening$22 B2.44×2.40×10.1 %77.7 %5.058 %not computed
8 Jul 202617-Week Bill$72 B3.41×3.02×25.9 %69.6 %3.790 %not computed
8 Jul 20269-Year 10-Month Note · reopening$39 B2.59×2.47×7.8 %81.5 %4.580 %not computed
7 Jul 20266-Week Bill · reopening$90 B2.74×2.87×33.8 %63.5 %3.635 %not computed
7 Jul 202652-Week Bill$52 B3.14×3.35×35.3 %60.1 %3.860 %not computed
7 Jul 20263-Year Note$58 B2.60×2.65×7.7 %67.5 %4.179 %not computed
6 Jul 202613-Week Bill · reopening$92 B2.58×2.81×43.8 %48.5 %3.735 %not computed
6 Jul 202626-Week Bill$79 B3.05×2.91×30.6 %59.8 %3.830 %not computed
2 Jul 20264-Week Bill · reopening$85 B2.72×2.78×29.2 %67.1 %3.605 %not computed
2 Jul 20268-Week Bill · reopening$85 B2.70×2.81×34.4 %61.7 %3.650 %not computed
1 Jul 202617-Week Bill$72 B2.66×3.02×38.2 %55.2 %3.795 %not computed
30 Jun 20266-Week Bill · reopening$80 B2.71×2.87×26.0 %69.0 %3.655 %not computed
29 Jun 202613-Week Bill · reopening$92 B2.32×2.81×51.9 %41.0 %3.740 %not computed
29 Jun 202626-Week Bill$79 B2.58×2.91×36.4 %56.4 %3.840 %not computed
25 Jun 20264-Week Bill · reopening$70 B2.74×2.78×31.2 %65.1 %3.610 %not computed
25 Jun 20268-Week Bill · reopening$75 B2.79×2.81×27.9 %69.5 %3.660 %not computed
25 Jun 20267-Year Note$44 B2.50×2.48×12.8 %57.6 %4.260 %not computed
24 Jun 202617-Week Bill$69 B2.55×3.02×41.6 %54.6 %3.770 %not computed
24 Jun 20261-Year 10-Month Note (FRN) · reopening$28 B2.99×3.06×33.4 %66.7 %—not computed
24 Jun 20265-Year Note$70 B2.35×2.36×12.9 %61.6 %4.200 %not computed
23 Jun 20266-Week Bill · reopening$65 B2.91×2.87×32.0 %65.7 %3.620 %not computed
23 Jun 20262-Year Note$69 B2.64×2.80×10.2 %55.5 %4.189 %not computed

Older auctions →

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