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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
12 Aug 202610-Year Note$42 B2.53×2.44×8.6 %76.7 %4.683 %not computed
23 Jul 202610-Year Note (TIPS)$21 B2.30×2.44×9.9 %65.2 %2.438 %not computed
12 May 202610-Year Note$42 B2.40×2.44×12.0 %64.0 %4.468 %not computed
11 Feb 202610-Year Note$42 B2.39×2.44×13.4 %64.5 %4.177 %not computed
22 Jan 202610-Year Note (TIPS)$21 B2.38×2.44×12.2 %67.4 %1.940 %not computed
12 Nov 202510-Year Note$42 B2.43×2.44×10.5 %67.0 %4.074 %not computed
6 Aug 202510-Year Note$42 B2.35×2.44×16.2 %64.2 %4.255 %not computed
24 Jul 202510-Year Note (TIPS)$21 B2.41×2.44×5.4 %62.7 %1.985 %not computed
6 May 202510-Year Note$42 B2.60×2.44×8.9 %71.2 %4.342 %not computed
12 Feb 202510-Year Note$42 B2.48×2.44×14.8 %71.6 %4.632 %not computed
23 Jan 202510-Year Note (TIPS)$20 B2.48×2.44×10.2 %66.5 %2.243 %not computed
5 Nov 202410-Year Note$42 B2.58×2.44×14.7 %61.7 %4.347 %not computed
7 Aug 202410-Year Note$42 B2.32×2.44×17.9 %66.2 %3.960 %not computed
18 Jul 202410-Year Note (TIPS)$19 B2.38×2.44×8.0 %68.7 %1.883 %not computed
8 May 202410-Year Note$42 B2.49×2.44×15.7 %65.5 %4.483 %not computed
7 Feb 202410-Year Note$42 B2.56×2.44×13.0 %71.0 %4.093 %not computed
18 Jan 202410-Year Note (TIPS)$18 B2.62×2.44×3.2 %79.3 %1.810 %not computed
8 Nov 202310-Year Note$40 B2.45×2.44×15.1 %69.7 %4.519 %not computed
9 Aug 202310-Year Note$38 B2.56×2.44×9.5 %72.2 %3.999 %not computed
20 Jul 202310-Year Note (TIPS)$17 B2.51×2.44×1.5 %85.8 %1.495 %not computed
10 May 202310-Year Note$35 B2.45×2.44×13.0 %67.5 %3.448 %not computed
8 Feb 202310-Year Note$35 B2.66×2.44×5.4 %79.5 %3.613 %not computed
19 Jan 202310-Year Note (TIPS)$17 B2.79×2.44×7.6 %79.3 %1.220 %not computed
9 Nov 202210-Year Note$35 B2.23×2.44×24.4 %57.5 %4.140 %not computed
10 Aug 202210-Year Note$35 B2.53×2.44×9.9 %74.5 %2.755 %not computed
21 Jul 202210-Year Note (TIPS)$17 B2.18×2.44×15.8 %67.1 %0.630 %not computed
11 May 202210-Year Note$36 B2.49×2.44×11.5 %70.3 %2.943 %not computed
9 Feb 202210-Year Note$37 B2.68×2.44×7.4 %77.6 %1.904 %not computed
20 Jan 202210-Year Note (TIPS)$16 B2.30×2.44×15.0 %69.3 %−0.540 %not computed
9 Nov 202110-Year Note$39 B2.35×2.44×15.2 %71.0 %1.444 %not computed
11 Aug 202110-Year Note$41 B2.65×2.44×9.6 %77.3 %1.340 %not computed
22 Jul 202110-Year Note (TIPS)$16 B2.50×2.44×14.3 %70.1 %−1.016 %not computed
12 May 202110-Year Note$41 B2.45×2.44×19.5 %63.4 %1.684 %not computed
10 Feb 202110-Year Note$41 B2.37×2.44×20.5 %60.6 %1.155 %not computed
21 Jan 202110-Year Note (TIPS)$15 B2.68×2.44×17.7 %62.8 %−0.987 %not computed
10 Nov 202010-Year Note$41 B2.32×2.44×32.0 %54.8 %0.960 %not computed
12 Aug 202010-Year Note$38 B2.41×2.44×19.8 %65.4 %0.677 %not computed
23 Jul 202010-Year Note (TIPS)$14 B2.24×2.44×17.8 %72.3 %−0.930 %not computed
12 May 202010-Year Note$32 B2.69×2.44×20.5 %66.2 %0.700 %not computed
12 Feb 202010-Year Note$27 B2.58×2.44×23.9 %61.3 %1.622 %not computed
23 Jan 202010-Year Note (TIPS)$14 B2.33×2.44×15.4 %73.2 %0.036 %not computed
6 Nov 201910-Year Note$27 B2.49×2.44×23.1 %64.5 %1.809 %not computed
7 Aug 201910-Year Note$27 B2.20×2.44×30.7 %55.7 %1.670 %not computed
18 Jul 201910-Year Note (TIPS)$14 B2.28×2.44×17.1 %64.3 %0.282 %not computed
8 May 201910-Year Note$27 B2.17×2.44×35.2 %53.3 %2.479 %not computed
6 Feb 201910-Year Note$27 B2.35×2.44×28.4 %59.5 %2.689 %not computed
17 Jan 201910-Year Note (TIPS)$13 B2.42×2.44×16.6 %69.1 %0.919 %not computed

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