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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
Auction results
DateSecuritySizeBid-to-cover12-meanDealersIndirectsHigh yieldTail
25 May 20225-Year Note$48 B2.44×2.36×17.0 %62.9 %2.736 %not computed
27 Apr 20225-Year Note$49 B2.41×2.36×16.5 %64.0 %2.785 %not computed
21 Apr 20225-Year Note (TIPS)$20 B2.73×2.36×6.5 %89.5 %−0.340 %not computed
28 Mar 20225-Year Note$51 B2.53×2.36×20.1 %60.2 %2.543 %not computed
23 Feb 20225-Year Note$53 B2.49×2.36×13.8 %67.8 %1.880 %not computed
25 Jan 20225-Year Note · reopening$55 B2.50×2.36×14.8 %68.7 %1.533 %not computed
28 Dec 20215-Year Note$57 B2.41×2.36×20.0 %65.7 %1.263 %not computed
22 Nov 20215-Year Note$59 B2.34×2.36×26.9 %56.9 %1.319 %not computed
27 Oct 20215-Year Note$61 B2.55×2.36×17.9 %64.8 %1.157 %not computed
21 Oct 20215-Year Note (TIPS)$19 B2.45×2.36×6.1 %78.4 %−1.685 %not computed
27 Sept 20215-Year Note$61 B2.37×2.36×25.5 %54.3 %0.990 %not computed
25 Aug 20215-Year Note$61 B2.35×2.36×19.8 %62.7 %0.831 %not computed
27 Jul 20215-Year Note$61 B2.36×2.36×24.2 %58.1 %0.710 %not computed
23 Jun 20215-Year Note$61 B2.36×2.36×24.3 %57.6 %0.904 %not computed
26 May 20215-Year Note$61 B2.49×2.36×20.8 %64.4 %0.788 %not computed
26 Apr 20215-Year Note$61 B2.31×2.36×24.6 %57.9 %0.849 %not computed
22 Apr 20215-Year Note (TIPS)$18 B2.50×2.36×13.1 %69.0 %−1.631 %not computed
24 Mar 20215-Year Note$61 B2.36×2.36×25.3 %58.1 %0.850 %not computed
24 Feb 20215-Year Note$61 B2.24×2.36×28.6 %57.1 %0.621 %not computed
26 Jan 20215-Year Note$61 B2.34×2.36×25.4 %60.5 %0.424 %not computed
28 Dec 20205-Year Note$59 B2.39×2.36×24.9 %57.1 %0.394 %not computed
23 Nov 20205-Year Note$57 B2.38×2.36×29.2 %56.5 %0.397 %not computed
28 Oct 20205-Year Note$55 B2.38×2.36×24.1 %61.9 %0.330 %not computed
22 Oct 20205-Year Note (TIPS)$17 B2.66×2.36×16.7 %62.8 %−1.320 %not computed
23 Sept 20205-Year Note$53 B2.52×2.36×20.7 %61.9 %0.275 %not computed
26 Aug 20205-Year Note$51 B2.71×2.36×17.8 %66.3 %0.298 %not computed
27 Jul 20205-Year Note$49 B2.32×2.36×29.6 %58.1 %0.288 %not computed
24 Jun 20205-Year Note$47 B2.58×2.36×22.0 %62.3 %0.330 %not computed
27 May 20205-Year Note$45 B2.28×2.36×31.8 %57.3 %0.334 %not computed
27 Apr 20205-Year Note$43 B2.74×2.36×19.4 %60.5 %0.394 %not computed
23 Apr 20205-Year Note (TIPS)$17 B2.74×2.36×14.3 %82.7 %−0.320 %not computed
25 Mar 20205-Year Note$41 B2.53×2.36×35.3 %52.1 %0.535 %not computed
26 Feb 20205-Year Note$41 B2.46×2.36×28.7 %61.5 %1.150 %not computed
27 Jan 20205-Year Note$41 B2.33×2.36×26.1 %60.0 %1.448 %not computed
24 Dec 20195-Year Note$41 B2.49×2.36×21.5 %62.4 %1.756 %not computed
26 Nov 20195-Year Note$41 B2.50×2.36×21.6 %64.8 %1.587 %not computed
23 Oct 20195-Year Note$41 B2.41×2.36×22.8 %65.7 %1.570 %not computed
17 Oct 20195-Year Note (TIPS)$17 B2.75×2.36×13.8 %67.9 %0.054 %not computed
25 Sept 20195-Year Note$41 B2.32×2.36×27.0 %58.8 %1.600 %not computed
28 Aug 20195-Year Note$41 B2.48×2.36×21.6 %59.7 %1.365 %not computed
24 Jul 20195-Year Note$41 B2.26×2.36×32.9 %53.4 %1.824 %not computed
26 Jun 20195-Year Note$41 B2.35×2.36×23.2 %57.1 %1.791 %not computed
28 May 20195-Year Note · reopening$41 B2.38×2.36×24.2 %57.5 %2.065 %not computed
24 Apr 20195-Year Note$41 B2.44×2.36×23.3 %61.5 %2.315 %not computed
18 Apr 20195-Year Note (TIPS)$17 B2.50×2.36×15.8 %75.4 %0.515 %not computed
27 Mar 20195-Year Note · reopening$41 B2.35×2.36×23.8 %59.0 %2.172 %not computed
25 Feb 20195-Year Note$41 B2.40×2.36×19.8 %57.7 %2.489 %not computed
28 Jan 20195-Year Note$41 B2.41×2.36×24.6 %60.2 %2.576 %not computed

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