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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-Year2.35×2.81×25 Jun 2024: 2.75×23 Jul 2024: 2.81×3-Year2.35×2.81×10 Jun 2024: 2.43×9 Jul 2024: 2.67×5-Year2.35×2.81×26 Jun 2024: 2.35×24 Jul 2024: 2.40×7-Year2.35×2.81×27 Jun 2024: 2.58×
Bid-to-cover per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
2-Year9 %20 %25 Jun 2024: 13 %23 Jul 2024: 9 %3-Year9 %20 %10 Jun 2024: 20 %9 Jul 2024: 15 %5-Year9 %20 %26 Jun 2024: 13 %24 Jul 2024: 14 %7-Year9 %20 %27 Jun 2024: 12 %
Dealer share per auction, last 12 per term. Dashed line: trailing-12 mean. Larger dot: latest.
Auction results
DateSecuritySizeBid-to-cover12-meanDealersIndirectsHigh yieldTail
24 Jul 202417-Week Bill$60 B3.00×3.02×36.5 %56.5 %5.115 %not computed
24 Jul 20242-Year Note (FRN)$30 B3.25×2.80×24.3 %74.8 %—not computed
24 Jul 20245-Year Note$70 B2.40×2.36×14.0 %67.3 %4.121 %not computed
23 Jul 202442-Day Bill · reopening$70 B2.76×2.76×50.8 %43.0 %5.270 %not computed
23 Jul 20242-Year Note$69 B2.81×2.80×9.0 %76.6 %4.434 %not computed
22 Jul 202426-Week Bill · reopening$70 B2.85×2.91×31.6 %59.7 %4.990 %not computed
22 Jul 202413-Week Bill · reopening$76 B3.08×2.81×34.1 %60.6 %5.190 %not computed
18 Jul 20244-Week Bill · reopening$90 B2.59×2.78×37.7 %58.1 %5.270 %not computed
18 Jul 20248-Week Bill · reopening$85 B2.68×2.81×47.3 %48.7 %5.260 %not computed
18 Jul 202410-Year Note (TIPS)$19 B2.38×2.44×8.0 %68.7 %1.883 %not computed
17 Jul 202417-Week Bill$60 B3.12×3.02×44.4 %50.7 %5.135 %not computed
17 Jul 202419-Year 10-Month Bond · reopening$13 B2.68×2.69×8.5 %77.2 %4.466 %not computed
16 Jul 202442-Day Bill · reopening$70 B2.92×2.76×38.8 %54.1 %5.265 %not computed
15 Jul 202413-Week Bill · reopening$76 B2.69×2.81×44.8 %50.0 %5.195 %not computed
15 Jul 202426-Week Bill$70 B2.85×2.91×26.8 %65.9 %4.985 %not computed
11 Jul 20244-Week Bill · reopening$90 B2.69×2.78×30.9 %64.9 %5.270 %not computed
11 Jul 20248-Week Bill · reopening$85 B2.63×2.81×35.4 %59.6 %5.260 %not computed
11 Jul 202429-Year 10-Month Bond · reopening$22 B2.30×2.40×15.9 %60.8 %4.405 %not computed
10 Jul 202417-Week Bill$60 B3.16×3.02×36.7 %54.7 %5.195 %not computed
10 Jul 20249-Year 10-Month Note · reopening$39 B2.58×2.47×11.5 %67.6 %4.276 %not computed
9 Jul 202442-Day Bill · reopening$70 B2.92×2.76×43.9 %46.8 %5.270 %not computed
9 Jul 202452-Week Bill$46 B2.85×3.35×44.8 %52.1 %4.775 %not computed
9 Jul 20243-Year Note$58 B2.67×2.65×14.8 %64.0 %4.399 %not computed
8 Jul 202413-Week Bill · reopening$76 B2.84×2.81×39.1 %54.7 %5.230 %not computed
8 Jul 202426-Week Bill$70 B2.95×2.91×27.7 %64.1 %5.080 %not computed
3 Jul 20244-Week Bill · reopening$85 B2.81×2.78×27.8 %68.7 %5.280 %not computed
3 Jul 20248-Week Bill · reopening$80 B2.76×2.81×42.3 %53.3 %5.275 %not computed
3 Jul 202417-Week Bill$60 B3.15×3.02×44.6 %50.4 %5.205 %not computed
2 Jul 202441-Day Bill · reopening$65 B3.13×3.04×36.5 %57.7 %5.270 %not computed
1 Jul 202413-Week Bill · reopening$73 B2.76×2.81×41.3 %54.2 %5.240 %not computed
1 Jul 202426-Week Bill$70 B2.99×2.91×25.7 %65.7 %5.115 %not computed
27 Jun 20244-Week Bill · reopening$80 B2.55×2.78×34.6 %59.7 %5.270 %not computed
27 Jun 20248-Week Bill · reopening$75 B2.84×2.81×28.2 %66.8 %5.260 %not computed
27 Jun 20247-Year Note$44 B2.58×2.48×11.9 %69.7 %4.276 %not computed
26 Jun 202417-Week Bill$60 B2.75×3.02×44.9 %51.0 %5.220 %not computed
26 Jun 20241-Year 10-Month Note (FRN) · reopening$28 B2.92×3.06×34.0 %65.5 %—not computed
26 Jun 20245-Year Note$70 B2.35×2.36×13.4 %68.9 %4.331 %not computed
25 Jun 202442-Day Bill · reopening$60 B2.87×2.76×32.2 %60.9 %5.250 %not computed
25 Jun 20242-Year Note$69 B2.75×2.80×13.5 %65.6 %4.706 %not computed
24 Jun 202426-Week Bill · reopening$70 B3.16×2.91×29.5 %66.2 %5.140 %not computed
24 Jun 202413-Week Bill · reopening$70 B2.85×2.81×32.9 %57.3 %5.235 %not computed
20 Jun 20244-Week Bill · reopening$70 B2.93×2.78×27.0 %69.1 %5.230 %not computed
20 Jun 20248-Week Bill · reopening$70 B2.65×2.81×37.9 %58.1 %5.260 %not computed
20 Jun 202417-Week Bill$60 B2.81×3.02×43.5 %53.7 %5.220 %not computed
20 Jun 20244-Year 10-Month Note (TIPS) · reopening$21 B2.52×2.55×2.3 %79.1 %2.050 %not computed
18 Jun 202419-Year 11-Month Bond · reopening$13 B2.74×2.67×5.8 %77.9 %4.452 %not computed
17 Jun 202442-Day Bill · reopening$60 B3.18×2.76×34.9 %59.8 %5.270 %not computed
17 Jun 202413-Week Bill · reopening$70 B2.93×2.81×41.9 %53.5 %5.250 %not computed
17 Jun 202426-Week Bill$70 B2.82×2.91×32.2 %61.5 %5.150 %not computed
13 Jun 20244-Week Bill · reopening$70 B2.95×2.78×29.8 %67.4 %5.260 %not computed
13 Jun 20248-Week Bill · reopening$70 B2.98×2.81×34.7 %62.8 %5.265 %not computed
13 Jun 202429-Year 11-Month Bond · reopening$22 B2.49×2.42×13.7 %68.5 %4.403 %not computed
12 Jun 202417-Week Bill$60 B2.94×3.02×43.2 %51.3 %5.220 %not computed
11 Jun 202442-Day Bill · reopening$60 B3.12×2.76×42.9 %49.7 %5.270 %not computed
11 Jun 202452-Week Bill$46 B2.87×3.35×48.6 %48.3 %4.915 %not computed
11 Jun 20249-Year 11-Month Note · reopening$39 B2.67×2.59×11.6 %74.6 %4.438 %not computed
10 Jun 202413-Week Bill · reopening$70 B2.75×2.81×48.3 %44.0 %5.250 %not computed
10 Jun 202426-Week Bill$70 B3.09×2.91×32.5 %58.4 %5.165 %not computed
10 Jun 20243-Year Note$58 B2.43×2.65×20.0 %64.1 %4.659 %not computed
6 Jun 20244-Week Bill · reopening$70 B2.81×2.78×36.9 %59.1 %5.270 %not computed

Older auctions →

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