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Treasury auctions · every term

Treasury auction results today

Treasury held 6 auctions in the week to ; the latest, the 8-week bill, sold at a high discount rate of 4.050%.

Last updated . This page normally updates every day; the latest update is late.

Bid-to-cover at the last 12 auctions of each note and bond term

The band is the middle half, the tick the medianThe larger dot is the newest

Bid-to-cover at the last 12 auctions of each note and bond term 2-year note: latest 2.63, median 2.63; 3-year note: latest 2.62, median 2.64; 5-year note: latest 2.21, median 2.34; 7-year note: latest 2.42, median 2.50; 10-year note: latest 2.77, median 2.54; 20-year bond: latest 2.57, median 2.66; 30-year bond: latest 2.54, median 2.41 2.2 2.4 2.6 2.8 3.0 2-year note 2.63 3-year note 2.62 5-year note 2.21 7-year note 2.42 10-year note 2.77 20-year bond 2.57 30-year bond 2.54 Bid-to-cover at the last 12 auctions of each note and bond term 2-year note: latest 2.63, median 2.63; 3-year note: latest 2.62, median 2.64; 5-year note: latest 2.21, median 2.34; 7-year note: latest 2.42, median 2.50; 10-year note: latest 2.77, median 2.54; 20-year bond: latest 2.57, median 2.66; 30-year bond: latest 2.54, median 2.41 2.2 2.4 2.6 2.8 3.0 2-year note 2.63 3-year note 2.62 5-year note 2.21 7-year note 2.42 10-year note 2.77 20-year bond 2.57 30-year bond 2.54

High yield at the last 12 auctions of each note and bond term

The band is the middle half, the tick the medianThe larger dot is the newest

High yield at the last 12 auctions of each note and bond term 2-year note: latest 4.787, median 3.874; 3-year note: latest 4.932, median 3.931; 5-year note: latest 5.033, median 3.968; 7-year note: latest 5.085, median 4.215; 10-year note: latest 5.300, median 4.375; 20-year bond: latest 5.420, median 4.864; 30-year bond: latest 5.618, median 4.948 3.0% 4.0% 5.0% 6.0% 2-year note 4.787 3-year note 4.932 5-year note 5.033 7-year note 5.085 10-year note 5.300 20-year bond 5.420 30-year bond 5.618 High yield at the last 12 auctions of each note and bond term 2-year note: latest 4.787, median 3.874; 3-year note: latest 4.932, median 3.931; 5-year note: latest 5.033, median 3.968; 7-year note: latest 5.085, median 4.215; 10-year note: latest 5.300, median 4.375; 20-year bond: latest 5.420, median 4.864; 30-year bond: latest 5.618, median 4.948 3.0% 4.0% 5.0% 6.0% 2-year note 4.787 3-year note 4.932 5-year note 5.033 7-year note 5.085 10-year note 5.300 20-year bond 5.420 30-year bond 5.618

Amount sold at each auction this week

The 7 days to Newest first

Amount sold at each auction this week 8-week bill: $112B; 4-week bill: $117B; 17-week bill: $80.1B; 6-week bill: $100B; 26-week bill: $86.7B; 13-week bill: $100B 8-week bill $112B 4-week bill $117B 17-week bill $80.1B 6-week bill $100B 26-week bill $86.7B 13-week bill $100B Amount sold at each auction this week 8-week bill: $112B; 4-week bill: $117B; 17-week bill: $80.1B; 6-week bill: $100B; 26-week bill: $86.7B; 13-week bill: $100B 8-week bill $112B 4-week bill $117B 17-week bill $80.1B 6-week bill $100B 26-week bill $86.7B 13-week bill $100B

Each row is one term on a shared axis, each dot one of its last 12 auctions with a result; the full results are under "The numbers behind the chart".

Select a line to followLatest:

Inspect and compare terms
TermLatestAuctionMedianLowestHighestNext
2-year note2.632.632.442.68
3-year note2.622.642.542.85
5-year note2.212.342.212.75
7-year note2.422.502.422.52
10-year note2.772.542.392.77
20-year bond2.572.662.362.86
30-year bond2.542.412.292.66

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Observed .

Right now

The newest auction drew a bid-to-cover below the median of its term's last 12 in 4 of 7 note and bond terms.

11,148 auctions have results since 31 October 1979, in 32 terms: 19 auctioned now and 13 discontinued.

This week

The largest sale of the week was the 4-week bill, $117.413 billion.

Treasury held 6 auctions in the 7 days to .

See every result of the week

Tentative

The next dates on Treasury's tentative schedule, not yet announced.

  • 17-week bill
  • 2-year FRN
  • 4-week bill
  • 8-week bill
  • 7-year note
  • 13-week bill
  • 26-week bill
  • 6-week bill

See every tentative date

Understanding Treasury auction results

Where it stands today

The high discount rate was 4.050% at the 8-week bill auction of , the newest of the week.

What do these figures measure?

The high yield (for bills, the high discount rate) is the highest rate Treasury accepted; every winning bidder gets that rate. The bid-to-cover ratio is bids received divided by the amount sold.

Read more

Indirect, direct and dealer shares are of competitive bids accepted. The market's auction tail is not shown: it needs the when-issued yield just before bids closed, a price that is not public.

What these figures cannot tell

  • Why it sold where it did. Results show what was bid and accepted, not the reasons behind any bid.
  • The auction tail as markets quote it. That compares the high yield with the when-issued yield just before bids closed, a market price that is not public; we show high minus median instead, a different measure.
  • Who the bidders are. Indirect bidders include foreign and international accounts bidding through the New York Fed and investors bidding through dealers; Treasury does not publish names.
  • Demand on another day. A bid-to-cover ratio counts bids at one auction against the amount offered, and the amount offered changes from auction to auction.

The numbers behind the chart

What was the latest result for every term?Every field of each term's latest auction
Notes, bonds, TIPS and FRNs: the latest auction of each term
TermAuctionIssueHigh rate, %Bid-to-coverSold, $ billionIndirect, %Dealers, %
2-year noteNew issue4.7872.6379.38857.813.2
3-year noteNew issue4.9322.6259.37857.610.7
5-year noteNew issue5.0332.2180.53954.315.8
7-year noteNew issue5.0852.4250.62457.212.5
10-year noteReopening5.3002.7739.92680.32.5
20-year bondReopening5.4202.5713.00052.516.9
30-year bondReopening5.6182.5422.52372.36.8
5-year TIPSReopening1.9552.6127.59368.63.4
10-year TIPSReopening2.6532.2421.86059.112.2
30-year TIPSReopening2.9732.829.02884.42.1
2-year FRNReopening0.0402.6328.00059.140.9

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Bills: the latest auction of each term, with the discount rate and the investment rate
TermAuctionDiscount rate, %Investment rate, %Bid-to-coverSold, $ billion
4-week bill4.0004.0682.56117.413
6-week bill3.9804.0552.58100.406
8-week bill4.0504.1322.26112.076
13-week bill4.0854.1852.68100.405
17-week bill4.1954.3132.7980.055
26-week bill4.2004.3512.7686.665
52-week bill4.4004.6163.0759.167
cash management bill3.6053.6654.6025.000

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Which auctions were held this week?6 auctions, newest first
Every auction held in the 7 days to 15 October 2026, newest first
TermAuctionHigh rate, %Bid-to-coverSold, $ billionIndirect, %Dealers, %
8-week bill4.0502.26112.07646.947.4
4-week bill4.0002.56117.41363.330.9
17-week bill4.1952.7980.05554.237.8
6-week bill3.9802.58100.40665.231.7
26-week bill4.2002.7686.66566.323.2
13-week bill4.0852.68100.40559.633.2

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How did each term's bid-to-cover compare with the auction before?Each note and bond term
  • 2-year note: ▲ 0.03 from the auction of
  • 3-year note: ▼ 0.10 from the auction of
  • 5-year note: ▼ 0.16 from the auction of
  • 7-year note: ▼ 0.08 from the auction of
  • 10-year note: ▲ 0.06 from the auction of
  • 20-year bond: ▲ 0.04 from the auction of
  • 30-year bond: ▼ 0.07 from the auction of
  • 5-year TIPS: ▲ 0.04 from the auction of
  • 10-year TIPS: ▼ 0.06 from the auction of
  • 30-year TIPS: ▲ 0.07 from the auction of
  • 2-year FRN: ▼ 0.51 from the auction of
When are the next tentative auctions?From Treasury's quarterly refunding
The next auctions Treasury plans and has not yet announced, by date
AuctionTermIssueAnnouncementSettles
17-week bill–
2-year FRNNew issue
4-week bill–
8-week bill–
7-year noteNew issue
13-week bill–
26-week bill–
6-week bill–

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Tentative: Treasury plans these dates in its quarterly refunding and may change them; amounts come with each announcement.

Every tentative date

Which terms does Treasury auction, and how often?19 current, 13 discontinued
Current terms (19), how often each is auctioned
TermHow oftenAuctionsFirstLatest
4-week billWeekly1,316
6-week billWeekly87
8-week billWeekly419
13-week billWeekly2,442
17-week billWeekly209
26-week billWeekly2,442
52-week billEvery 4 weeks508
2-year noteIrregular545
3-year noteMonthly298
5-year noteIrregular394
7-year noteMonthly272
10-year noteMonthly362
20-year bondMonthly78
30-year bondMonthly287
5-year TIPSIrregular67
10-year TIPSIrregular140
30-year TIPSIrregular48
2-year FRNMonthly155
cash management billAs needed934

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Discontinued terms (13)
TermAuctionsFirstLast
3-year 3-month note3
3-year 6-month note3
3-year 11-month note3
4-year note43
5-year 2-month note47
6-year 11-month note2
15-year 1-month bond4
20-year 1-month bond19
29-year 9-month bond4
30-year 3-month bond3
5-year 6-month TIPS3
20-year TIPS8
20-year 6-month TIPS3
When are the figures from, and how are they cited?Dates and how to cite

Observed .

Shares of competitive bids, grades against earlier auctions and the high-minus-median spread are computed by 500metrics from Treasury's published fields.

How to cite this

U.S. Treasury, Bureau of the Fiscal Service, Fiscal Data, Treasury Securities Auctions Data, through 15 October 2026. Compiled by 500metrics, "Treasury auction results today", https://500metrics.com/treasury/auctions.

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