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Independent research desk
Frameworks by James Lavish / Independent & unaffiliatedData as of Wed 23 Sept 2026, 4:30 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-Year2.38×2.74×24 Sept 2024: 2.59×28 Oct 2024: 2.50×3-Year2.38×2.74×8 Oct 2024: 2.45×4 Nov 2024: 2.60×5-Year2.38×2.74×25 Sept 2024: 2.38×28 Oct 2024: 2.39×7-Year2.38×2.74×26 Sept 2024: 2.63×29 Oct 2024: 2.74×
Bid-to-cover per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
2-Year7 %20 %24 Sept 2024: 13 %28 Oct 2024: 18 %3-Year7 %20 %8 Oct 2024: 19 %4 Nov 2024: 20 %5-Year7 %20 %25 Sept 2024: 11 %28 Oct 2024: 14 %7-Year7 %20 %26 Sept 2024: 9 %29 Oct 2024: 7 %
Dealer share per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
Auction results
DateSecuritySizeBid-to-cover12-meanDealersIndirectsHigh yieldTail
4 Nov 20243-Year Note$58 B2.60×2.65×19.8 %70.6 %4.152 %not computed
31 Oct 20244-Week Bill · reopening$95 B2.82×2.78×27.5 %68.6 %4.580 %not computed
31 Oct 20248-Week Bill · reopening$90 B2.68×2.81×34.7 %62.0 %4.555 %not computed
30 Oct 202417-Week Bill$64 B2.99×3.02×27.0 %67.7 %4.430 %not computed
29 Oct 202442-Day Bill · reopening$80 B2.62×2.76×39.2 %56.7 %4.630 %not computed
29 Oct 202452-Week Bill$48 B3.05×3.35×38.9 %57.0 %4.100 %not computed
29 Oct 20242-Year Note (FRN)$30 B2.95×2.80×23.5 %75.7 %—not computed
29 Oct 20247-Year Note$44 B2.74×2.48×7.5 %72.0 %4.215 %not computed
28 Oct 202413-Week Bill · reopening$81 B2.90×2.81×29.6 %63.9 %4.490 %not computed
28 Oct 202426-Week Bill$72 B3.25×2.91×21.0 %71.2 %4.325 %not computed
28 Oct 20245-Year Note$70 B2.39×2.36×14.2 %76.4 %4.138 %not computed
28 Oct 20242-Year Note$69 B2.50×2.80×17.9 %58.2 %4.130 %not computed
24 Oct 20244-Week Bill · reopening$95 B2.83×2.78×26.9 %69.4 %4.650 %not computed
24 Oct 20248-Week Bill · reopening$90 B2.83×2.81×30.2 %66.6 %4.590 %not computed
24 Oct 20245-Year Note (TIPS)$24 B2.40×2.36×7.9 %74.8 %1.670 %not computed
23 Oct 202417-Week Bill$64 B2.97×3.02×26.9 %69.2 %4.445 %not computed
23 Oct 202419-Year 10-Month Bond · reopening$13 B2.59×2.69×14.5 %67.9 %4.590 %not computed
22 Oct 202442-Day Bill · reopening$80 B2.69×2.76×36.0 %57.9 %4.650 %not computed
21 Oct 202413-Week Bill · reopening$81 B3.07×2.81×28.1 %66.9 %4.510 %not computed
21 Oct 202426-Week Bill$72 B2.92×2.91×26.9 %64.0 %4.310 %not computed
17 Oct 20244-Week Bill · reopening$95 B2.90×2.78×25.0 %71.6 %4.700 %not computed
17 Oct 20248-Week Bill · reopening$90 B2.68×2.81×36.5 %59.9 %4.630 %not computed
16 Oct 202417-Week Bill$64 B3.05×3.02×36.0 %59.1 %4.420 %not computed
15 Oct 202443-Day Bill · reopening$80 B2.62×3.03×40.2 %55.0 %4.685 %not computed
15 Oct 202426-Week Bill · reopening$72 B3.05×2.91×27.1 %63.7 %4.270 %not computed
15 Oct 202413-Week Bill · reopening$81 B2.96×2.81×29.0 %65.8 %4.515 %not computed
10 Oct 20244-Week Bill · reopening$95 B2.74×2.78×30.4 %65.4 %4.750 %not computed
10 Oct 20248-Week Bill · reopening$90 B2.92×2.81×32.5 %63.6 %4.640 %not computed
10 Oct 202429-Year 10-Month Bond · reopening$22 B2.50×2.40×12.2 %80.5 %4.389 %not computed
9 Oct 202417-Week Bill$64 B3.31×3.02×33.6 %59.5 %4.430 %not computed
9 Oct 20249-Year 10-Month Note · reopening$39 B2.48×2.47×13.9 %77.6 %4.066 %not computed
8 Oct 202442-Day Bill · reopening$80 B2.96×2.76×35.0 %59.9 %4.720 %not computed
8 Oct 20243-Year Note$58 B2.45×2.65×19.2 %56.9 %3.878 %not computed
7 Oct 202413-Week Bill · reopening$81 B2.62×2.81×39.1 %55.6 %4.550 %not computed
7 Oct 202426-Week Bill$72 B3.38×2.91×28.7 %61.2 %4.305 %not computed
3 Oct 20244-Week Bill · reopening$95 B2.50×2.78×42.0 %54.1 %4.755 %not computed
3 Oct 20248-Week Bill · reopening$90 B2.72×2.81×32.2 %63.6 %4.655 %not computed
2 Oct 202417-Week Bill$64 B3.37×3.02×35.0 %60.7 %4.410 %not computed
1 Oct 202442-Day Bill · reopening$70 B2.64×2.76×35.1 %57.1 %4.750 %not computed
1 Oct 202452-Week Bill$48 B3.45×3.35×39.2 %57.9 %3.780 %not computed
30 Sept 202413-Week Bill · reopening$79 B2.71×2.81×31.3 %63.8 %4.500 %not computed
30 Sept 202426-Week Bill$72 B3.28×2.91×22.4 %74.3 %4.215 %not computed
26 Sept 20244-Week Bill · reopening$90 B2.81×2.78×27.8 %69.1 %4.700 %not computed
26 Sept 20248-Week Bill · reopening$85 B2.42×2.81×55.6 %40.3 %4.650 %not computed
26 Sept 20247-Year Note$44 B2.63×2.48×8.9 %70.8 %3.668 %not computed
25 Sept 202417-Week Bill$62 B2.80×3.02×36.1 %58.9 %4.430 %not computed
25 Sept 20241-Year 10-Month Note (FRN) · reopening$28 B2.86×3.06×42.6 %56.5 %—not computed
25 Sept 20245-Year Note$70 B2.38×2.36×11.5 %70.3 %3.519 %not computed
24 Sept 202442-Day Bill · reopening$60 B3.26×2.76×30.2 %67.2 %4.620 %not computed
24 Sept 20242-Year Note$69 B2.59×2.80×12.8 %67.6 %3.520 %not computed
23 Sept 202413-Week Bill · reopening$76 B2.84×2.81×34.8 %58.9 %4.540 %not computed
23 Sept 202426-Week Bill$70 B3.42×2.91×28.5 %64.0 %4.270 %not computed
19 Sept 20244-Week Bill · reopening$80 B2.87×2.78×34.0 %61.7 %4.700 %not computed
19 Sept 20248-Week Bill · reopening$80 B2.80×2.81×35.5 %60.7 %4.690 %not computed
19 Sept 20249-Year 10-Month Note (TIPS) · reopening$17 B2.44×2.47×6.6 %71.9 %1.592 %not computed
18 Sept 202417-Week Bill$60 B3.05×3.02×38.2 %58.5 %4.660 %not computed
17 Sept 202442-Day Bill · reopening$60 B2.66×2.76×46.2 %46.8 %4.920 %not computed
17 Sept 202419-Year 11-Month Bond · reopening$13 B2.51×2.67×18.6 %65.1 %4.039 %not computed
16 Sept 202426-Week Bill · reopening$70 B2.98×2.91×33.1 %62.1 %4.410 %not computed
16 Sept 202413-Week Bill · reopening$76 B2.61×2.81×37.8 %55.9 %4.750 %not computed

Older auctions →

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