Treasury auctions · 13-week bill

What was the rate at the latest 13-week Treasury bill auction?

The 13-week bill auctioned on sold at a discount rate of 4.085% (investment rate 4.185%), bid-to-cover 2.68.

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

Discount rate at each 13-week bill auction

2,442 auctions with results since 28 Dec 1979200 on this page

Discount rate at each 13-week bill auction, 27 Dec 2022 to 19 Oct 2026
Discount rate at each 13-week bill auction, 21 Oct 2024 to 19 Oct 2026

The linesLatest:

  • Discount rate4.085%
  • Investment rate4.185%

Bid-to-cover ratio at each 13-week bill auction

2,442 auctions with results since 28 Dec 1979200 on this page

Bid-to-cover ratio at each 13-week bill auction, 27 Dec 2022 to 19 Oct 2026
Bid-to-cover ratio at each 13-week bill auction, 21 Oct 2024 to 19 Oct 2026

Who bought each 13-week bill auction: shares of the competitive bids accepted

2,442 auctions with results since 28 Dec 1979200 on this page

Who bought each 13-week bill auction: shares of the competitive bids accepted, 27 Dec 2022 to 19 Oct 2026
Who bought each 13-week bill auction: shares of the competitive bids accepted, 21 Oct 2024 to 19 Oct 2026

The linesLatest:

  • Indirect bidders59.6%
  • Direct bidders7.2%
  • Primary dealers33.2%

Each point is one auction; pointing at the chart shows its date and figures. The full results are under "The numbers behind the chart".

Select a line to followLatest:

Inspect and compare dates

The latest 13-week bill auction beside the one before it and the nearest ones a year, five and ten years earlier.

The 13-week bill auction of 13 Oct 2026 beside earlier ones
MeasureLatestThe auction beforeA year earlier
Auction
Discount rate, %–4.0853.845
Investment rate, %–4.1853.937
Bid-to-cover–2.682.88
Indirect bidders, %–59.664.0
Direct bidders, %–7.26.2
Primary dealers, %–33.229.8
Sold, $ billion–100.40588.795

Observed .

Right now

The high discount rate was 4.085% on 13 October 2026, up from 4.050% at the auction before.

Higher than 818 of the 966 since 7 April 2008

Its own history

Against the previous 24 13-week bill auctions, the discount rate was higher than 23 of the 24.

The high minus median was higher than 5 of them.

See every measure against earlier auctions

Who bought

Indirect bidders took the largest share of the competitive bids accepted at the 13 Oct 2026 auction.

  • Indirect bidders 59.6%
  • Direct bidders 7.2%
  • Primary dealers 33.2%

Size

Treasury offered $95 billion and sold $100.405 billion on 13 Oct 2026.

Next

Treasury has announced no 13-week bill auction yet; its tentative schedule names these dates.

  • Tentative
  • Tentative
  • Tentative
  • Tentative

See every auction announced and scheduled

Understanding the 13-week bill auction

Where it stands today

The high discount rate was 4.085% at the 13-week bill auction of , with a bid-to-cover ratio of 2.68.

What do these figures measure?

The high discount rate is the highest rate Treasury accepted; every winning bidder gets it. The investment rate states the same result as a bond-equivalent yield. The bid-to-cover ratio is bids received divided by the amount sold. Shares are of competitive bids accepted.

Read more

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 cost over the bill's life in other terms. The discount rate is Treasury's quoting convention; the investment rate states the same result as a bond-equivalent yield.
  • Demand on another day. Bill sizes change week to week, so a bid-to-cover ratio is comparable only with care.

The numbers behind the chart

How does the latest auction compare with earlier ones?Every measure, window by window
Each measure against earlier 13-week bill auctions: how many were higher and lower, and their median
MeasureThis auctionWindowHigherLowerMedian
Bid-to-cover ratio2.68Last 12 auctions8 of 124 of 122.82
Bid-to-cover ratio2.68Last 24 auctions16 of 247 of 242.78
Bid-to-cover ratio2.68Since 7 April 2008852 of 966105 of 9663.14
Bid-to-cover ratio2.68All 1408 since 18 October 1999935 of 1408460 of 14082.92
High discount rate4.085Last 12 auctions1 of 1211 of 123.785
High discount rate4.085Last 24 auctions1 of 2423 of 243.732
High discount rate4.085Since 7 April 2008148 of 966818 of 9660.285
High discount rate4.085All 2441 since 28 December 19791220 of 24411221 of 24414.080
Indirect bidders' share59.6Last 12 auctions2 of 1210 of 1254.6
Indirect bidders' share59.6Last 24 auctions6 of 2418 of 2455.5
Indirect bidders' share59.6All 966 since 7 April 2008100 of 966866 of 96638.9
Direct bidders' share7.2Last 12 auctions4 of 128 of 127.0
Direct bidders' share7.2Last 24 auctions7 of 2417 of 247.0
Direct bidders' share7.2All 966 since 7 April 2008375 of 966591 of 9666.5
Primary dealers' share33.2Last 12 auctions9 of 123 of 1237.8
Primary dealers' share33.2Last 24 auctions18 of 246 of 2437.8
Primary dealers' share33.2All 966 since 7 April 2008890 of 96676 of 96653.7
High minus median, basis points2.5Last 12 auctions6 of 123 of 122.8
High minus median, basis points2.5Last 24 auctions16 of 245 of 243.0
High minus median, basis points2.5Since 7 April 2008280 of 966577 of 9662.0
High minus median, basis points2.5All 2441 since 28 December 1979387 of 24411910 of 24411.0

The table scrolls sideways; the first column stays in place.

What were the results of every 13-week bill auction?Page 1 of 13: 200 auctions, newest first

2,442 13-week bill auctions with results since 28 December 1979; this page holds 200 of them, newest first.

13-week bill auctions, newest first
AuctionOffered asDiscount rate, %Investment rate, %Bid-to-coverOffered, $ billionSold, $ billionIndirect, %Direct, %Dealers, %
13-Week, reopeningNo result––95.000––––
13-Week, reopening4.0854.1852.6895.000100.40559.67.233.2
13-Week, reopening4.0504.1492.5195.000102.15648.67.244.2
13-Week, reopening4.1104.2112.9995.000104.09066.67.126.3
13-Week, reopening4.0154.1132.7792.00098.21454.18.337.6
13-Week, reopening3.9704.0662.6492.000100.21455.16.838.1
13-Week, reopening3.8003.8902.6192.00099.06851.98.140.0
13-Week, reopening3.7703.8592.7792.00097.54752.07.540.5
13-Week, reopening3.7153.8033.0892.00096.14559.28.032.9
13-Week, reopening3.7153.8022.8692.00098.72653.86.839.4
13-Week, reopening3.7353.8232.8892.00097.57457.26.836.0
13-Week, reopening3.7503.8382.6192.00099.29454.16.339.5
Show 188 more rows
13-week bill auctions, newest first (continued)
AuctionOffered asDiscount rate, %Investment rate, %Bid-to-coverOffered, $ billionSold, $ billionIndirect, %Direct, %Dealers, %
13-Week, reopening3.8153.9063.0692.00098.46566.95.927.2
13-Week, reopening3.7303.8183.0092.00097.60255.86.837.4
13-Week, reopening3.7603.8492.8492.00095.73056.88.235.0
13-Week, reopening3.7353.8232.5892.00096.88548.57.743.8
13-Week, reopening3.7403.8282.3292.00097.96141.07.151.9
13-Week, reopening3.6953.7822.6889.00095.11259.84.935.4
13-Week, reopening3.6403.7252.4789.00096.46249.84.845.4
13-Week, reopening3.6403.7252.7989.00094.72456.25.937.9
13-Week, reopening3.6303.7142.6989.00094.63551.07.042.0
13-Week, reopening3.5953.6783.0889.00092.43160.37.032.8
13-Week, reopening3.6003.6843.1789.00094.37163.26.430.4
13-Week, reopening3.6103.6942.8689.00094.58658.87.034.2
13-Week, reopening3.6103.6942.7689.00094.64249.38.042.8
13-Week, reopening3.5903.6733.0989.00095.17565.26.728.1
13-Week, reopening3.6103.6942.9489.00095.39958.57.034.6
13-Week, reopening3.6203.7042.7789.00092.51556.77.735.6
13-Week, reopening3.6353.7202.5889.00095.49546.87.645.5
13-Week, reopening3.6203.7042.6689.00094.05847.28.844.0
13-Week, reopening3.6353.7202.8489.00093.40959.85.534.8
13-Week, reopening3.6103.6942.9489.00096.13656.84.638.6
13-Week, reopening3.6053.6892.9289.00094.07055.27.537.3
13-Week, reopening3.6103.6943.1689.00091.99160.56.233.3
13-Week, reopening3.5903.6733.3089.00092.33768.16.625.3
13-Week, reopening3.6003.6842.7189.00093.06757.96.635.5
13-Week, reopening3.6003.6842.7689.00094.18860.56.233.3
13-Week, reopening3.6003.6842.8189.00093.02657.07.036.0
13-Week, reopening3.5803.6632.9089.00093.11361.86.431.9
13-Week, reopening3.5903.6732.7089.00092.86857.46.436.2
13-Week, reopening3.5703.6532.7986.00088.81849.38.941.8
13-Week, reopening3.5403.6222.8486.00090.43052.67.939.5
13-Week, reopening3.5703.6522.6686.00091.10156.86.536.7
13-Week, reopening3.5603.6422.8686.00089.95459.87.932.2
13-Week, reopening3.5603.6422.6886.00089.03754.36.539.2
13-Week, reopening3.6503.7352.7386.00089.70952.08.139.9
13-Week, reopening3.7253.8132.8286.00088.32063.16.830.1
13-Week, reopening3.7453.8332.8586.00089.98063.56.729.8
13-Week, reopening3.7953.8852.7986.00090.17654.07.538.4
13-Week, reopening3.7803.8692.8386.00091.48658.86.035.2
13-Week, reopening3.8153.9062.6286.00090.05847.46.546.1
13-Week, reopening3.7303.8183.0786.00090.81969.75.225.1
13-Week, reopening3.8103.9003.0186.00088.98059.85.434.8
13-Week, reopening3.8453.9372.8886.00088.79564.06.229.8
13-Week, reopening3.8503.9422.9184.00088.12557.36.136.6
13-Week, reopening3.8603.9532.7482.00086.71058.87.034.2
13-Week, reopening3.8603.9533.3382.00085.35774.26.419.4
13-Week, reopening3.9053.9993.1182.00084.30364.36.629.1
13-Week, reopening3.9404.0352.8182.00084.71655.28.336.5
13-Week, reopening4.0454.1442.9682.00083.65164.77.228.0
13-Week, reopening4.1004.2013.0782.00085.55064.07.128.9
13-Week, reopening4.1304.2322.7082.00085.85759.88.531.7
13-Week, reopening4.1504.2522.6482.00087.60457.75.636.7
13-Week, reopening4.1654.2683.1782.00086.57369.17.223.7
13-Week, reopening4.2354.3403.2182.00086.89972.05.922.2
13-Week, reopening4.2404.3452.9882.00085.15762.16.731.2
13-Week, reopening4.2454.3513.1082.00085.34561.95.932.2
13-Week, reopening4.2554.3612.7582.00086.72064.56.129.4
13-Week, reopening4.2354.3403.0479.00084.33071.57.421.1
13-Week, reopening4.1954.2993.4976.00079.22681.36.911.9
13-Week, reopening4.2404.3452.9976.00077.80962.88.228.9
13-Week, reopening4.2504.3562.6976.00078.48459.87.232.9
13-Week, reopening4.2504.3562.6876.00077.64948.56.445.1
13-Week, reopening4.2554.3613.1876.00080.28160.28.331.5
13-Week, reopening4.2854.3922.7676.00080.75259.74.535.8
13-Week, reopening4.3004.4082.5176.00082.67248.74.746.6
13-Week, reopening4.2204.3252.7476.00080.60758.14.637.3
13-Week, reopening4.2004.3043.1076.00081.61568.54.227.2
13-Week, reopening4.2254.3303.0176.00079.31861.98.130.0
13-Week, reopening4.2254.3302.9676.00079.72363.14.332.6
13-Week, reopening4.1754.2782.8276.00080.27766.14.629.3
13-Week, reopening4.2054.3092.7476.00080.84855.95.738.4
13-Week, reopening4.1904.2942.9676.00076.88662.68.229.1
13-Week, reopening4.2054.3102.8976.00076.21456.27.036.8
13-Week, reopening4.2004.3042.8276.00076.76655.85.738.5
13-Week, reopening4.2104.3142.7776.00076.59452.48.838.8
13-Week, reopening4.1954.2992.9076.00079.63964.64.830.6
13-Week, reopening4.2254.3302.8180.00084.18053.88.038.2
13-Week, reopening4.2254.3303.0184.00091.41459.25.335.4
13-Week, reopening4.2204.3252.6584.00090.46848.05.646.4
13-Week, reopening4.1954.2993.1884.00092.30366.45.528.0
13-Week, reopening4.2154.3202.8084.00088.58855.26.937.9
13-Week, reopening4.2254.3303.0984.00088.84757.98.233.9
13-Week, reopening4.2054.3093.0184.00088.51254.15.540.4
13-Week, reopening4.2304.3352.3884.00088.98041.75.153.2
13-Week, reopening4.2404.3452.8681.00082.58671.21.827.0
13-Week, reopening4.2504.3562.6281.00081.31852.87.639.6
13-Week, reopening4.3004.4082.8981.00082.29760.410.828.8
13-Week, reopening4.4004.5112.8981.00081.87359.67.033.4
13-Week, reopening4.4154.5263.1081.00086.60762.36.631.1
13-Week, reopening4.4204.5322.6881.00086.91951.96.141.9
13-Week, reopening4.4204.5322.8781.00088.36662.09.129.0
13-Week, reopening4.4404.5532.4481.00087.39738.98.752.5
13-Week, reopening4.4904.6052.9081.00089.22363.96.529.6
13-Week, reopening4.5104.6253.0781.00085.55766.95.028.1
13-Week, reopening4.5154.6312.9681.00085.87565.85.329.0
13-Week, reopening4.5504.6672.6281.00085.43455.65.239.1
13-Week, reopening4.5004.6152.7179.00083.92863.84.831.3
13-Week, reopening4.5404.6562.8476.00076.98658.96.334.8
13-Week, reopening4.7504.8742.6176.00076.26055.96.337.8
13-Week, reopening4.8955.0253.2276.00076.93362.55.731.7
13-Week, reopening4.9705.1032.6276.00076.86853.47.339.3
13-Week, reopening4.9805.1143.0376.00081.29863.88.028.3
13-Week, reopening5.0555.1923.1276.00081.60164.85.030.1
13-Week, reopening5.0705.2072.9576.00082.95463.54.831.6
13-Week, reopening5.0755.2122.6276.00082.09654.95.140.0
13-Week, reopening5.1455.2853.0176.00083.81460.05.035.0
13-Week, reopening5.1905.3323.0876.00080.31060.65.434.1
13-Week, reopening5.1955.3372.6976.00080.47850.05.244.8
13-Week, reopening5.2305.3742.8476.00080.28254.76.239.1
13-Week, reopening5.2405.3832.7673.00077.50754.24.441.3
13-Week, reopening5.2355.3792.8570.00071.42157.39.832.9
13-Week, reopening5.2505.3952.9370.00070.34053.54.641.9
13-Week, reopening5.2505.3952.7570.00071.49844.07.748.3
13-Week, reopening5.2505.3952.7470.00070.78152.97.339.9
13-Week, reopening5.2555.4002.8770.00075.30752.37.739.9
13-Week, reopening5.2455.3892.8970.00075.58157.56.136.4
13-Week, reopening5.2505.3952.7770.00076.95958.36.135.6
13-Week, reopening5.2505.3952.7270.00075.98953.37.739.0
13-Week, reopening5.2505.3952.6770.00077.78847.98.044.1
13-Week, reopening5.2555.4002.7870.00074.29756.66.636.7
13-Week, reopening5.2505.3952.9570.00074.73156.27.336.6
13-Week, reopening5.2255.3682.7970.00074.09449.15.245.7
13-Week, reopening5.2305.3742.8370.00074.66059.14.936.0
13-Week, reopening5.2305.3742.8873.00073.49458.37.534.2
13-Week, reopening5.2455.3892.8176.00076.17347.210.242.6
13-Week, reopening5.2505.3952.5379.00079.33144.06.349.7
13-Week, reopening5.2405.3842.6579.00079.31150.95.943.1
13-Week, reopening5.2555.4002.9379.00084.49859.33.637.0
13-Week, reopening5.2305.3882.8479.00084.84460.83.735.6
13-Week, reopening5.2305.3882.9279.00086.22262.05.432.6
13-Week, reopening5.2355.3942.9179.00085.32855.56.538.0
13-Week, reopening5.2105.3682.8479.00087.15356.05.138.9
13-Week, reopening5.2255.3833.0377.00081.38151.15.443.6
13-Week, reopening5.2255.3832.9975.00079.27157.74.337.9
13-Week, reopening5.2355.3942.9575.00079.10751.36.242.5
13-Week, reopening5.2455.4042.7175.00079.59456.43.739.9
13-Week, reopening5.2605.4203.0775.00077.59063.33.733.0
13-Week, reopening5.2605.4202.8975.00075.56054.42.942.7
13-Week, reopening5.2605.4202.9975.00076.53355.56.937.6
13-Week, reopening5.2505.4092.9875.00076.38162.35.332.4
13-Week, reopening5.2805.4412.8775.00080.64155.83.940.3
13-Week, reopening5.2705.4292.9075.00080.86762.24.733.1
13-Week, reopening5.2855.4462.7675.00082.23262.14.033.8
13-Week, reopening5.2855.4462.9175.00081.22761.86.132.1
13-Week, reopening5.3255.4882.7875.00083.18661.25.133.7
13-Week, reopening5.3105.4722.8575.00079.64864.36.429.3
13-Week, reopening5.3405.5033.1675.00079.84068.14.227.7
13-Week, reopening5.3405.5032.7973.00077.51462.64.932.5
13-Week, reopening5.3455.5092.7771.00076.24254.74.840.6
13-Week, reopening5.3305.4932.7769.00071.72751.85.642.6
13-Week, reopening5.3155.4772.8669.00069.73352.45.642.0
13-Week, reopening5.3155.4772.9869.00070.91259.53.736.8
13-Week, reopening5.3155.4772.9469.00070.86650.34.645.1
13-Week, reopening5.3405.5033.0469.00074.26351.12.946.0
13-Week, reopening5.3005.4622.9669.00074.65757.23.938.9
13-Week, reopening5.2955.4563.1269.00076.11157.34.638.1
13-Week, reopening5.2905.4512.8367.00073.37558.14.937.0
13-Week, reopening5.2805.4412.9365.00073.06155.85.738.5
13-Week, reopening5.2705.4302.9265.00070.00558.33.438.3
13-Week, reopening5.2505.4093.1165.00070.17560.84.634.6
13-Week, reopening5.2505.4093.1265.00070.13258.82.838.3
13-Week, reopening5.2305.3883.0065.00070.47260.62.337.1
13-Week, reopening5.1805.3362.9965.00070.17348.34.447.3
13-Week, reopening5.1305.2842.5865.00066.37151.93.444.7
13-Week, reopening5.1505.3052.9965.00068.86363.94.231.9
13-Week, reopening5.2205.3783.1565.00068.31867.35.027.8
13-Week, reopening5.3005.4622.3863.00068.03442.13.054.9
13-Week, reopening5.2505.4092.5657.00062.83564.23.032.8
13-Week, reopening5.0605.2112.7957.00064.46266.93.929.2
13-Week, reopening5.1405.2942.6657.00063.52854.74.141.2
13-Week, reopening5.1205.2742.4457.00065.41548.56.644.9
13-Week, reopening5.0655.2162.7457.00063.20961.32.736.1
13-Week, reopening5.0805.2322.5957.00063.55560.34.235.5
13-Week, reopening4.9805.1282.2857.00062.73740.84.255.1
13-Week, reopening4.7804.9192.4957.00063.62452.92.744.5
13-Week, reopening4.6754.8102.5157.00063.31542.89.447.8
13-Week, reopening4.6754.8102.4157.00058.72053.78.138.2
13-Week, reopening4.7504.8882.1557.00061.14734.23.562.4
13-Week, reopening4.7654.9032.9357.00061.04260.43.636.1
13-Week, reopening4.7504.8882.5960.00066.19551.73.844.5
13-Week, reopening4.7204.8432.7260.00066.13052.84.243.1
13-Week, reopening4.6804.8022.6060.00067.54749.53.746.9
13-Week, reopening4.5904.7082.6960.00066.60954.54.041.5
13-Week, reopening4.5954.7142.4760.00068.54549.93.546.6
13-Week, reopening4.5754.6932.6860.00066.41841.213.045.8
13-Week, reopening4.5604.6772.6960.00066.46555.75.139.2
13-Week, reopening4.5604.6772.6157.00062.86354.63.841.6
13-Week, reopening4.4104.5222.5054.00060.93051.84.244.0
13-Week, reopening4.3504.4592.3854.00061.14837.63.059.4

The table scrolls sideways; the first column stays in place.

When are the next 13-week bill auctions?Treasury's tentative schedule, from its quarterly refunding
Tentative 13-week bill auction dates
AuctionIssueAnnouncementSettles
–
–
–
–
–
–
–
–
–
–
–
–
–
–

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

What do the figures leave out, and how are they cited?Limits, 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 13 October 2026. Compiled by 500metrics, "What was the rate at the latest 13-week Treasury bill auction?", https://500metrics.com/treasury/auctions/13-week-bill.

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