The Fiscal DeskFiscal policy. Monetary plumbing. Public data.
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-Year2.31×2.68×27 Aug 2024: 2.68×3-Year2.31×2.68×6 Aug 2024: 2.55×10 Sept 2024: 2.66×5-Year2.31×2.68×28 Aug 2024: 2.41×7-Year2.31×2.68×25 Jul 2024: 2.64×29 Aug 2024: 2.50×10-Year2.31×2.68×7 Aug 2024: 2.32×20-Year2.31×2.68×21 Aug 2024: 2.54×30-Year2.31×2.68×8 Aug 2024: 2.31×
Bid-to-cover per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
2-Year9 %19 %27 Aug 2024: 12 %3-Year9 %19 %6 Aug 2024: 15 %10 Sept 2024: 10 %5-Year9 %19 %28 Aug 2024: 13 %7-Year9 %19 %25 Jul 2024: 9 %29 Aug 2024: 14 %10-Year9 %19 %7 Aug 2024: 18 %20-Year9 %19 %21 Aug 2024: 10 %30-Year9 %19 %8 Aug 2024: 19 %
Dealer share per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
Auction results
DateSecuritySizeBid-to-cover12-meanDealersIndirectsHigh yieldTail
12 Sept 20244-Week Bill · reopening$80 B2.92×2.78×24.0 %68.4 %4.965 %not computed
12 Sept 20248-Week Bill · reopening$80 B2.45×2.81×54.0 %36.3 %4.990 %not computed
12 Sept 202429-Year 11-Month Bond · reopening$22 B2.38×2.42×15.7 %68.7 %4.015 %not computed
11 Sept 202417-Week Bill$60 B2.74×3.02×42.6 %51.9 %4.740 %not computed
11 Sept 20249-Year 11-Month Note · reopening$39 B2.64×2.59×10.3 %76.1 %3.648 %not computed
10 Sept 202442-Day Bill · reopening$60 B2.97×2.76×31.9 %62.4 %4.980 %not computed
10 Sept 20243-Year Note$58 B2.66×2.65×10.5 %78.2 %3.440 %not computed
9 Sept 202413-Week Bill · reopening$76 B3.22×2.81×31.7 %62.6 %4.895 %not computed
9 Sept 202426-Week Bill$70 B2.98×2.91×30.3 %63.2 %4.530 %not computed
5 Sept 20244-Week Bill · reopening$80 B3.03×2.78×25.6 %69.9 %5.080 %not computed
5 Sept 20248-Week Bill · reopening$80 B2.78×2.81×33.3 %61.9 %5.040 %not computed
4 Sept 202417-Week Bill$60 B3.21×3.02×28.3 %65.4 %4.810 %not computed
3 Sept 202442-Day Bill · reopening$65 B3.01×2.76×28.6 %63.4 %5.120 %not computed
3 Sept 202413-Week Bill · reopening$76 B2.62×2.81×39.3 %53.4 %4.970 %not computed
3 Sept 202452-Week Bill$46 B3.00×3.35×32.7 %65.1 %4.150 %not computed
3 Sept 202426-Week Bill$70 B3.08×2.91×25.1 %68.6 %4.645 %not computed
29 Aug 20244-Week Bill · reopening$85 B2.83×2.78×29.7 %65.9 %5.170 %not computed
29 Aug 20248-Week Bill · reopening$80 B2.60×2.81×45.4 %48.7 %5.100 %not computed
29 Aug 20247-Year Note$44 B2.50×2.48×13.7 %75.1 %3.770 %not computed
28 Aug 202417-Week Bill$60 B3.25×3.02×34.3 %60.6 %4.870 %not computed
28 Aug 20241-Year 11-Month Note (FRN) · reopening$28 B2.65×3.02×37.5 %61.6 %—not computed
28 Aug 20245-Year Note$70 B2.41×2.36×13.2 %70.5 %3.645 %not computed
27 Aug 202442-Day Bill · reopening$75 B2.67×2.76×35.3 %57.4 %5.150 %not computed
27 Aug 20242-Year Note$69 B2.68×2.80×11.9 %69.0 %3.874 %not computed
26 Aug 202413-Week Bill · reopening$76 B3.03×2.81×28.3 %63.8 %4.980 %not computed
26 Aug 202426-Week Bill$70 B3.05×2.91×35.4 %60.0 %4.685 %not computed
22 Aug 20244-Week Bill · reopening$95 B2.67×2.78×39.9 %52.9 %5.240 %not computed
22 Aug 20248-Week Bill · reopening$90 B2.83×2.81×31.8 %65.3 %5.125 %not computed
22 Aug 202429-Year 6-Month Bond (TIPS) · reopening$8 B2.61×2.58×6.9 %77.6 %2.055 %not computed
21 Aug 202416-Day Bill · reopening$35 B3.10×3.21×66.4 %26.8 %5.260 %not computed
21 Aug 202417-Week Bill$60 B3.28×3.02×35.2 %60.3 %4.920 %not computed
21 Aug 202420-Year Bond$16 B2.54×2.47×9.7 %71.0 %4.160 %not computed
20 Aug 202442-Day Bill · reopening$75 B2.72×2.76×40.3 %52.5 %5.185 %not computed
19 Aug 202426-Week Bill · reopening$70 B3.05×2.91×34.6 %58.2 %4.770 %not computed
19 Aug 202413-Week Bill · reopening$76 B3.12×2.81×30.1 %64.8 %5.055 %not computed
15 Aug 20244-Week Bill · reopening$95 B2.90×2.78×28.6 %63.8 %5.260 %not computed
15 Aug 20248-Week Bill · reopening$90 B2.77×2.81×33.4 %63.0 %5.175 %not computed
14 Aug 202417-Week Bill$60 B3.34×3.02×30.1 %65.1 %4.980 %not computed
13 Aug 202442-Day Bill · reopening$75 B2.81×2.76×41.8 %54.4 %5.230 %not computed
12 Aug 202413-Week Bill · reopening$76 B2.95×2.81×31.6 %63.5 %5.070 %not computed
12 Aug 202426-Week Bill$70 B2.73×2.91×38.4 %53.7 %4.795 %not computed
8 Aug 20244-Week Bill · reopening$95 B2.77×2.78×27.0 %70.2 %5.285 %not computed
8 Aug 20248-Week Bill · reopening$90 B2.74×2.81×28.5 %67.3 %5.190 %not computed
8 Aug 202430-Year Bond$25 B2.31×2.43×19.2 %65.3 %4.314 %not computed
7 Aug 202417-Week Bill$60 B2.89×3.02×36.4 %59.8 %4.990 %not computed
7 Aug 202410-Year Note$42 B2.32×2.44×17.9 %66.2 %3.960 %not computed
6 Aug 202442-Day Bill · reopening$75 B2.76×2.76×41.7 %51.2 %5.270 %not computed
6 Aug 202452-Week Bill$46 B2.93×3.35×42.9 %54.7 %4.255 %not computed
6 Aug 20243-Year Note$58 B2.55×2.65×15.4 %64.4 %3.810 %not computed
5 Aug 202413-Week Bill · reopening$76 B2.62×2.81×40.0 %54.9 %5.075 %not computed
5 Aug 202426-Week Bill$70 B2.67×2.91×41.6 %54.5 %4.700 %not computed
1 Aug 20244-Week Bill · reopening$90 B2.87×2.78×32.0 %64.5 %5.285 %not computed
1 Aug 20248-Week Bill · reopening$85 B2.74×2.81×40.4 %55.3 %5.230 %not computed
31 Jul 202417-Week Bill$60 B3.24×3.02×32.0 %61.9 %5.090 %not computed
30 Jul 202442-Day Bill · reopening$70 B2.93×2.76×27.7 %67.6 %5.280 %not computed
29 Jul 202413-Week Bill · reopening$76 B3.01×2.81×35.0 %60.0 %5.145 %not computed
29 Jul 202426-Week Bill$70 B2.95×2.91×21.1 %72.9 %4.930 %not computed
25 Jul 20244-Week Bill · reopening$90 B2.77×2.78×32.9 %63.5 %5.285 %not computed
25 Jul 20248-Week Bill · reopening$85 B2.89×2.81×33.0 %63.2 %5.260 %not computed
25 Jul 20247-Year Note$44 B2.64×2.48×8.9 %74.4 %4.162 %not computed

Older auctions →

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