Treasury auctions · 17-week bill

What was the rate at the latest 17-week Treasury bill auction?

The 17-week bill auctioned on sold at a discount rate of 4.195% (investment rate 4.313%), bid-to-cover 2.79.

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

Discount rate at each 17-week bill auction

209 auctions with results since 19 Oct 2022200 on this page

Discount rate at each 17-week bill auction, 21 Dec 2022 to 14 Oct 2026
Discount rate at each 17-week bill auction, 16 Oct 2024 to 14 Oct 2026

The linesLatest:

  • Discount rate4.195%
  • Investment rate4.313%

Bid-to-cover ratio at each 17-week bill auction

209 auctions with results since 19 Oct 2022200 on this page

Bid-to-cover ratio at each 17-week bill auction, 21 Dec 2022 to 14 Oct 2026
Bid-to-cover ratio at each 17-week bill auction, 16 Oct 2024 to 14 Oct 2026

Who bought each 17-week bill auction: shares of the competitive bids accepted

209 auctions with results since 19 Oct 2022200 on this page

Who bought each 17-week bill auction: shares of the competitive bids accepted, 21 Dec 2022 to 14 Oct 2026
Who bought each 17-week bill auction: shares of the competitive bids accepted, 16 Oct 2024 to 14 Oct 2026

The linesLatest:

  • Indirect bidders54.2%
  • Direct bidders8.0%
  • Primary dealers37.8%

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

The 17-week bill auction of 14 Oct 2026 beside earlier ones
MeasureLatestThe auction beforeA year earlier
Auction
Discount rate, %4.1954.1053.775
Investment rate, %4.3134.2193.876
Bid-to-cover2.793.103.28
Indirect bidders, %54.259.771.4
Direct bidders, %8.010.13.7
Primary dealers, %37.830.224.9
Sold, $ billion80.05581.37469.189

Observed .

Right now

The high discount rate of 4.195% on 14 October 2026 was the highest for a 17-week bill since 30 July 2025.

Higher than 70 of the 208 since 19 October 2022

Its own history

Against the previous 24 17-week bill auctions, the discount rate was higher than all 24.

The direct bidders' share was higher than 20 of them.

See every measure against earlier auctions

Who bought

Indirect bidders took the largest share of the competitive bids accepted at the 14 Oct 2026 auction.

  • Indirect bidders 54.2%
  • Direct bidders 8.0%
  • Primary dealers 37.8%

Size

Treasury offered $75 billion and sold $80.055 billion on 14 Oct 2026.

Next

Treasury has announced no 17-week bill auction yet; its tentative schedule names these dates.

  • Tentative
  • Tentative
  • Tentative
  • Tentative

See every auction announced and scheduled

Understanding the 17-week bill auction

Where it stands today

The high discount rate was 4.195% at the 17-week bill auction of , with a bid-to-cover ratio of 2.79.

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
  • High discount rate: Highest for a 17-week bill since 30 July 2025 (62 auctions in between).
Each measure against earlier 17-week bill auctions: how many were higher and lower, and their median
MeasureThis auctionWindowHigherLowerMedian
Bid-to-cover ratio2.79Last 12 auctions8 of 124 of 122.96
Bid-to-cover ratio2.79Last 24 auctions17 of 247 of 243.02
Bid-to-cover ratio2.79All 208 since 19 October 2022179 of 20826 of 2083.02
High discount rate4.195Last 12 auctions0 of 1212 of 123.865
High discount rate4.195Last 24 auctions0 of 2424 of 243.762
High discount rate4.195All 208 since 19 October 2022135 of 20870 of 2084.385
Indirect bidders' share54.2Last 12 auctions8 of 124 of 1257.7
Indirect bidders' share54.2Last 24 auctions17 of 247 of 2457.7
Indirect bidders' share54.2All 208 since 19 October 2022140 of 20868 of 20857.7
Direct bidders' share8.0Last 12 auctions4 of 128 of 126.6
Direct bidders' share8.0Last 24 auctions4 of 2420 of 246.1
Direct bidders' share8.0All 208 since 19 October 202216 of 208192 of 2084.9
Primary dealers' share37.8Last 12 auctions4 of 128 of 1234.3
Primary dealers' share37.8Last 24 auctions10 of 2414 of 2435.5
Primary dealers' share37.8All 208 since 19 October 2022104 of 208104 of 20837.8
High minus median, basis points2.0Last 12 auctions6 of 122 of 122.2
High minus median, basis points2.0Last 24 auctions6 of 247 of 242.0
High minus median, basis points2.0All 208 since 19 October 202275 of 20873 of 2082.0

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

What were the results of every 17-week bill auction?Page 1 of 2: 200 auctions, newest first

209 17-week bill auctions with results since 19 October 2022; this page holds 200 of them, newest first.

17-week bill auctions, newest first
AuctionOffered asDiscount rate, %Investment rate, %Bid-to-coverOffered, $ billionSold, $ billionIndirect, %Direct, %Dealers, %
17-Week4.1954.3132.7975.00080.05554.28.037.8
17-Week4.1054.2193.1075.00081.37459.710.130.2
17-Week4.1154.2302.8975.00078.81957.86.036.2
17-Week4.1354.2512.8172.00077.95255.110.134.7
17-Week4.0304.1412.7272.00078.11852.45.342.3
17-Week3.8954.0012.7372.00077.64843.78.248.1
17-Week3.8553.9592.7872.00076.30851.26.742.1
17-Week3.7503.8503.0972.00078.13660.37.132.6
17-Week3.7503.8503.3572.00076.60060.86.332.9
17-Week3.7553.8553.1672.00077.35062.36.631.1
17-Week3.7853.8863.1972.00075.35464.66.229.3
17-Week3.8753.9803.0472.00075.93457.68.433.9
Show 188 more rows
17-week bill auctions, newest first (continued)
AuctionOffered asDiscount rate, %Investment rate, %Bid-to-coverOffered, $ billionSold, $ billionIndirect, %Direct, %Dealers, %
17-Week3.8453.9492.7672.00076.31453.15.641.3
17-Week3.7453.8453.3572.00076.22060.06.133.8
17-Week3.7903.8913.4172.00076.45569.64.525.9
17-Week3.7953.8972.6672.00074.70255.26.638.2
17-Week3.7703.8712.5569.00074.41454.63.841.6
17-Week3.6703.7672.8769.00073.27253.05.141.9
17-Week3.6653.7612.8869.00073.61558.04.737.3
17-Week3.6353.7303.1569.00072.70661.24.134.6
17-Week3.6303.7253.0169.00071.70856.34.739.1
17-Week3.5903.6843.3469.00071.69259.17.133.8
17-Week3.6153.7103.2069.00071.89559.96.034.1
17-Week3.6053.6993.1369.00069.64650.35.544.2
17-Week3.6203.7152.7869.00070.97544.15.850.2
17-Week3.6103.7043.0269.00069.91852.86.141.1
17-Week3.6253.7202.9369.00069.49652.75.242.1
17-Week3.6003.6943.3469.00069.76960.96.432.7
17-Week3.6153.7102.9569.00069.36747.57.844.7
17-Week3.6353.7302.8269.00069.72759.53.636.9
17-Week3.6103.7043.0569.00069.47853.85.840.4
17-Week3.6003.6943.1969.00069.51758.35.736.0
17-Week3.5903.6843.2569.00069.21661.64.533.9
17-Week3.5903.6843.2069.00070.18954.55.140.4
17-Week3.5953.6893.1569.00069.19460.55.733.7
17-Week3.5953.6893.3869.00069.18357.86.036.2
17-Week3.5953.6892.9769.00069.20147.56.446.1
17-Week3.5903.6842.9269.00069.25648.07.444.6
17-Week3.5803.6732.9969.00069.18861.64.633.7
17-Week3.5603.6523.0069.00069.19352.65.641.8
17-Week3.5103.6013.0269.00069.21353.66.240.1
17-Week3.5403.6323.1169.00069.21664.54.630.9
17-Week3.5553.6472.9569.00069.23963.73.832.5
17-Week3.5403.6323.2769.00069.22367.56.526.0
17-Week3.6103.7043.0469.00069.21665.35.129.6
17-Week3.6203.7153.1769.00069.21257.35.637.1
17-Week3.7403.8392.8469.00069.21561.26.032.8
17-Week3.7503.8503.1569.00069.18665.35.529.2
17-Week3.7503.8503.1869.00069.18664.36.529.2
17-Week3.7703.8703.3669.00069.19065.25.329.5
17-Week3.7053.8032.9469.00069.22458.84.037.2
17-Week3.7353.8343.2769.00069.19564.94.430.7
17-Week3.8103.9122.8769.00069.18962.84.532.7
17-Week3.7753.8763.2869.00069.18971.43.724.9
17-Week3.7853.8863.3267.00067.19166.06.227.8
17-Week3.8053.9072.9365.00065.18665.36.128.6
17-Week3.8153.9173.0665.00065.18460.77.232.1
17-Week3.8503.9543.2665.00065.18563.65.530.9
17-Week3.9654.0733.3465.00065.18063.55.730.8
17-Week4.0204.1313.0065.00065.17068.95.026.1
17-Week4.0504.1623.1465.00065.17660.96.432.6
17-Week4.0504.1623.5065.00065.17766.05.328.7
17-Week4.1054.2193.3165.00065.17568.05.726.4
17-Week4.2104.3293.4565.00065.17770.15.524.4
17-Week4.2254.3443.5565.00065.18565.59.025.5
17-Week4.2304.3503.0265.00065.19556.16.237.7
17-Week4.2304.3503.0365.00065.21360.35.634.1
17-Week4.1854.3033.0465.00065.28360.56.433.2
17-Week4.1954.3133.1363.00063.26472.46.621.0
17-Week4.2354.3552.8860.00060.23768.05.426.6
17-Week4.2204.3392.9660.00060.23362.35.132.6
17-Week4.2054.3233.1360.00060.23962.24.033.8
17-Week4.2204.3393.3660.00060.22061.911.426.7
17-Week4.2304.3503.2160.00060.19858.93.537.6
17-Week4.2404.3603.2860.00060.19461.14.534.4
17-Week4.2004.3183.0260.00060.19864.93.531.6
17-Week4.1904.3083.0860.00060.20263.32.833.9
17-Week4.2104.3292.9260.00060.19756.33.040.7
17-Week4.2254.3442.7560.00060.19159.61.638.8
17-Week4.2504.3702.7160.00060.19852.84.043.1
17-Week4.2004.3182.9860.00060.20760.84.934.3
17-Week4.2004.3182.7860.00060.20560.33.136.6
17-Week4.1954.3132.9960.00060.20359.42.937.8
17-Week4.1754.2923.2960.00060.20569.23.327.5
17-Week4.1804.2973.4260.00060.20971.12.826.0
17-Week4.2004.3182.7860.00060.19945.95.149.0
17-Week4.2154.3343.3360.00060.18658.311.929.8
17-Week4.2304.3503.3862.00062.18558.62.938.5
17-Week4.2054.3232.9964.00064.19161.13.035.9
17-Week4.1904.3083.1064.00064.18859.27.433.5
17-Week4.2054.3233.2864.00064.18660.54.235.3
17-Week4.2104.3293.1964.00064.18454.74.241.1
17-Week4.1904.3083.2464.00064.19059.15.635.3
17-Week4.1954.3133.0464.00064.20458.03.838.2
17-Week4.2304.3502.9164.00064.21971.83.225.0
17-Week4.2204.3392.9764.00064.20263.44.731.9
17-Week4.2404.3602.8364.00064.21852.79.338.0
17-Week4.3154.4383.1064.00064.20955.610.034.4
17-Week4.3904.5172.8064.00064.18957.74.837.5
17-Week4.3804.5063.1464.00064.18667.93.928.2
17-Week4.3704.4963.1564.00064.18859.28.032.8
17-Week4.4104.5372.7964.00064.18561.85.732.6
17-Week4.4304.5582.9964.00064.18067.75.227.0
17-Week4.4454.5742.9764.00064.17869.23.926.9
17-Week4.4204.5483.0564.00064.19859.15.036.0
17-Week4.4304.5583.3164.00064.20559.56.933.6
17-Week4.4104.5373.3764.00064.19960.74.335.0
17-Week4.4304.5582.8062.00062.20058.95.036.1
17-Week4.6604.7993.0560.00060.20358.53.338.2
17-Week4.7404.8822.7460.00060.19751.95.542.6
17-Week4.8104.9563.2160.00060.18865.46.328.3
17-Week4.8705.0183.2560.00060.18260.55.134.3
17-Week4.9205.0713.2860.00060.16560.34.535.2
17-Week4.9805.1343.3460.00060.19165.14.830.1
17-Week4.9905.1442.8960.00060.18659.83.836.4
17-Week5.0905.2493.2460.00060.18961.96.132.0
17-Week5.1155.2753.0060.00060.18656.57.036.5
17-Week5.1355.2963.1260.00060.16850.74.944.4
17-Week5.1955.3593.1660.00060.15354.78.636.7
17-Week5.2055.3703.1560.00060.15850.44.944.6
17-Week5.2205.3852.7560.00060.16451.04.144.8
17-Week5.2205.3852.8160.00060.25053.72.843.5
17-Week5.2205.3852.9460.00060.25251.35.543.2
17-Week5.2255.3912.7960.00060.24551.45.043.5
17-Week5.2405.4062.8060.00060.24247.45.347.3
17-Week5.2355.4012.8960.00060.22140.78.750.6
17-Week5.2355.4012.9860.00060.18546.36.747.0
17-Week5.2405.4063.0460.00060.17848.75.445.9
17-Week5.2455.4123.0260.00060.19154.55.140.4
17-Week5.2405.4062.8060.00060.19452.76.540.8
17-Week5.2405.4062.8160.00060.23638.79.052.3
17-Week5.2305.3963.1260.00060.23550.57.442.1
17-Week5.2005.3642.9160.00060.23248.15.946.0
17-Week5.2055.3702.7760.00060.22546.54.748.8
17-Week5.2155.3802.7360.00060.06844.95.449.7
17-Week5.2105.3753.0060.00060.06251.25.643.2
17-Week5.2055.3702.8460.00060.06153.34.242.5
17-Week5.2255.3912.8660.00060.06152.03.944.1
17-Week5.2155.3952.9760.00060.29660.64.634.8
17-Week5.2155.3953.0760.00060.29860.83.735.5
17-Week5.1805.3582.9760.00060.28755.13.141.8
17-Week5.1505.3272.6960.00060.29645.86.847.4
17-Week5.1855.3632.7660.00060.28352.96.141.0
17-Week5.1855.3633.2258.00058.30455.74.939.3
17-Week5.1805.3583.1956.00056.28656.82.940.3
17-Week5.2005.3793.0956.00056.29353.83.243.0
17-Week5.2105.3903.1556.00056.29156.33.839.9
17-Week5.2205.4002.9956.00056.26554.63.541.9
17-Week5.2505.4322.8456.00056.25945.94.249.9
17-Week5.2405.4212.9756.00056.26449.33.347.5
17-Week5.2405.4212.9256.00056.26748.04.747.3
17-Week5.2605.4423.0856.00056.47162.72.335.0
17-Week5.2555.4373.1756.00056.39055.12.742.2
17-Week5.2855.4693.0656.00056.39456.73.040.3
17-Week5.3405.5272.8956.00056.40557.75.836.5
17-Week5.3355.5212.9656.00056.36856.53.540.0
17-Week5.3555.5423.2756.00056.38967.84.427.8
17-Week5.3555.5423.3756.00056.39361.52.735.8
17-Week5.3505.5372.9654.00054.41255.03.441.6
17-Week5.3455.5323.1852.00052.44957.93.438.7
17-Week5.3405.5272.8350.00050.33648.74.746.6
17-Week5.3305.5162.9550.00050.32048.53.947.6
17-Week5.3355.5212.9850.00050.33557.63.638.8
17-Week5.3305.5163.1250.00050.30854.05.740.3
17-Week5.3155.5003.0150.00050.59954.04.241.8
17-Week5.3055.4903.0250.00050.58148.13.448.5
17-Week5.3105.4953.1948.00048.60754.75.240.1
17-Week5.3005.4843.2146.00046.59255.94.839.3
17-Week5.3005.4842.9946.00046.58652.56.341.3
17-Week5.2705.4533.2946.00046.51358.03.838.1
17-Week5.2605.4423.1346.00046.54757.23.639.1
17-Week5.2505.4323.3146.00046.54660.42.437.2
17-Week5.2255.4053.4446.00046.51853.53.343.2
17-Week5.2205.4003.2746.00046.52153.73.542.9
17-Week5.1505.3273.1846.00046.59257.42.939.7
17-Week5.2005.3793.3646.00046.62563.03.633.4
17-Week5.3255.5112.9744.00044.85658.92.838.3
17-Week5.2605.4422.7342.00043.00240.05.854.2
17-Week5.1005.2742.5739.00039.99241.03.655.4
17-Week5.0005.1692.9836.00037.05356.22.341.5
17-Week4.9805.1482.9536.00036.85066.52.930.6
17-Week4.9755.1422.8536.00036.83157.03.139.9
17-Week5.0605.2322.9136.00036.86152.82.944.3
17-Week4.9805.1482.7036.00036.83353.54.242.3
17-Week4.7504.9062.8136.00036.75550.75.743.6
17-Week4.7804.9382.6336.00036.77355.32.941.7
17-Week4.8054.9642.6136.00036.71748.812.139.1
17-Week4.7504.9062.7436.00036.78341.416.841.9
17-Week5.0455.2162.6236.00036.65747.64.048.4
17-Week4.8855.0492.9236.00036.62654.81.943.3
17-Week4.8304.9772.9336.00036.62653.83.942.2
17-Week4.8004.9452.9336.00036.71161.42.436.1
17-Week4.7004.8402.5936.00036.47545.12.952.0
17-Week4.6254.7622.8636.00036.55047.73.049.3
17-Week4.6204.7572.9036.00036.44453.53.543.0
17-Week4.6104.7462.9736.00036.57953.15.841.1
17-Week4.6804.8202.7936.00036.62745.811.942.4
17-Week4.5704.7053.1033.00033.83464.72.932.4
17-Week4.5504.6842.8833.00033.69255.11.943.0
17-Week4.4254.5533.0033.00033.89468.61.929.5

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

When are the next 17-week bill auctions?Treasury's tentative schedule, from its quarterly refunding
Tentative 17-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 14 October 2026. Compiled by 500metrics, "What was the rate at the latest 17-week Treasury bill auction?", https://500metrics.com/treasury/auctions/17-week-bill.

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