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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.

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Auction results
DateSecuritySizeBid-to-cover12-meanDealersIndirectsHigh yieldTail
23 Sept 20265-Year Noteannounced$70 B—2.36×———not computed
26 Aug 20265-Year Note$70 B2.37×2.36×10.1 %61.5 %4.393 %not computed
27 Jul 20265-Year Note$70 B2.28×2.36×13.5 %59.2 %4.408 %not computed
24 Jun 20265-Year Note$70 B2.35×2.36×12.9 %61.6 %4.200 %not computed
27 May 20265-Year Note$70 B2.34×2.36×12.8 %74.9 %4.182 %not computed
27 Apr 20265-Year Note$70 B2.33×2.36×12.7 %72.3 %3.955 %not computed
23 Apr 20265-Year Note (TIPS)$26 B2.57×2.36×8.5 %64.6 %1.367 %not computed
25 Mar 20265-Year Note$70 B2.29×2.36×15.6 %61.9 %3.980 %not computed
25 Feb 20265-Year Note$70 B2.32×2.36×12.8 %62.5 %3.615 %not computed
27 Jan 20265-Year Note$70 B2.34×2.36×10.9 %60.7 %3.823 %not computed
23 Dec 20255-Year Note$70 B2.35×2.36×8.8 %59.5 %3.747 %not computed
25 Nov 20255-Year Note$70 B2.41×2.36×11.0 %61.4 %3.562 %not computed
27 Oct 20255-Year Note$70 B2.38×2.36×9.3 %66.8 %3.625 %not computed
23 Oct 20255-Year Note (TIPS)$26 B2.51×2.36×13.5 %62.1 %1.182 %not computed
24 Sept 20255-Year Note$70 B2.34×2.36×11.9 %59.4 %3.710 %not computed
27 Aug 20255-Year Note$70 B2.36×2.36×8.8 %60.5 %3.724 %not computed
28 Jul 20255-Year Note$70 B2.31×2.36×12.2 %58.3 %3.983 %not computed
25 Jun 20255-Year Note$70 B2.36×2.36×10.9 %64.7 %3.879 %not computed
28 May 20255-Year Note$70 B2.39×2.36×9.2 %78.4 %4.071 %not computed
23 Apr 20255-Year Note$70 B2.41×2.36×11.1 %64.0 %3.995 %not computed
17 Apr 20255-Year Note (TIPS)$25 B2.28×2.36×18.1 %64.2 %1.702 %not computed
26 Mar 20255-Year Note$70 B2.33×2.36×13.2 %75.8 %4.100 %not computed
25 Feb 20255-Year Note · reopening$70 B2.42×2.36×10.6 %74.9 %4.123 %not computed
27 Jan 20255-Year Note$70 B2.40×2.36×11.1 %62.8 %4.330 %not computed
24 Dec 20245-Year Note$70 B2.40×2.36×12.5 %67.3 %4.478 %not computed
26 Nov 20245-Year Note$70 B2.43×2.36×11.3 %64.1 %4.197 %not computed
28 Oct 20245-Year Note$70 B2.39×2.36×14.2 %76.4 %4.138 %not computed
24 Oct 20245-Year Note (TIPS)$24 B2.40×2.36×7.9 %74.8 %1.670 %not computed
25 Sept 20245-Year Note$70 B2.38×2.36×11.5 %70.3 %3.519 %not computed
28 Aug 20245-Year Note$70 B2.41×2.36×13.2 %70.5 %3.645 %not computed
24 Jul 20245-Year Note$70 B2.40×2.36×14.0 %67.3 %4.121 %not computed
26 Jun 20245-Year Note$70 B2.35×2.36×13.4 %68.9 %4.331 %not computed
28 May 20245-Year Note$70 B2.30×2.36×19.5 %65.0 %4.553 %not computed
24 Apr 20245-Year Note$70 B2.39×2.36×15.0 %65.7 %4.659 %not computed
18 Apr 20245-Year Note (TIPS)$23 B2.58×2.36×3.9 %78.3 %2.242 %not computed
26 Mar 20245-Year Note$67 B2.41×2.36×12.7 %70.5 %4.235 %not computed
26 Feb 20245-Year Note$64 B2.41×2.36×16.8 %63.5 %4.320 %not computed
24 Jan 20245-Year Note$61 B2.31×2.36×20.4 %60.9 %4.055 %not computed
27 Dec 20235-Year Note$58 B2.50×2.36×14.0 %70.6 %3.801 %not computed
27 Nov 20235-Year Note$55 B2.46×2.36×16.9 %65.5 %4.420 %not computed
25 Oct 20235-Year Note$52 B2.36×2.36×19.4 %61.5 %4.899 %not computed
19 Oct 20235-Year Note (TIPS)$22 B2.36×2.36×9.2 %73.2 %2.440 %not computed
27 Sept 20235-Year Note$49 B2.52×2.36×11.2 %71.2 %4.659 %not computed
28 Aug 20235-Year Note$46 B2.54×2.36×13.8 %67.9 %4.400 %not computed
25 Jul 20235-Year Note$43 B2.60×2.36×13.5 %64.4 %4.170 %not computed
27 Jun 20235-Year Note$43 B2.52×2.36×12.2 %68.1 %4.019 %not computed
24 May 20235-Year Note$43 B2.58×2.36×9.3 %72.7 %3.749 %not computed
26 Apr 20235-Year Note$43 B2.54×2.36×13.6 %69.1 %3.500 %not computed
20 Apr 20235-Year Note (TIPS)$21 B2.34×2.36×10.2 %72.6 %1.320 %not computed
28 Mar 20235-Year Note$43 B2.48×2.36×13.3 %68.5 %3.665 %not computed
22 Feb 20235-Year Note$43 B2.48×2.36×11.0 %70.0 %4.109 %not computed
25 Jan 20235-Year Note$43 B2.64×2.36×8.8 %75.7 %3.530 %not computed
28 Dec 20225-Year Note$43 B2.46×2.36×16.9 %64.5 %3.973 %not computed
21 Nov 20225-Year Note$43 B2.39×2.36×15.1 %66.2 %3.974 %not computed
26 Oct 20225-Year Note$43 B2.48×2.36×16.5 %68.0 %4.192 %not computed
20 Oct 20225-Year Note (TIPS)$21 B2.38×2.36×7.7 %75.3 %1.732 %not computed
27 Sept 20225-Year Note$44 B2.27×2.36×21.7 %59.6 %4.228 %not computed
24 Aug 20225-Year Note$45 B2.30×2.36×20.6 %61.2 %3.230 %not computed
26 Jul 20225-Year Note$46 B2.46×2.36×16.8 %66.4 %2.860 %not computed
27 Jun 20225-Year Note$47 B2.28×2.36×23.8 %56.5 %3.271 %not computed

Older auctions →

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