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US Treasury Auction Results by Bidder

US Treasury auction results and bidder demand metrics from the Department of the Treasury.

Source: U.S. Department of the Treasury (Fiscal Data — Treasury Securities Auctions Data)Last updated: Sep 25, 2026, 05:40Curated by Bui Thanh PhucAbout this data ↓

Indicator24-09-202623-09-202622-09-202621-09-202617-09-202616-09-202615-09-202614-09-202610-09-202609-09-202608-09-202603-09-202602-09-202601-09-202631-08-202627-08-202626-08-202625-08-202624-08-202620-08-202619-08-202618-08-202617-08-202613-08-202612-08-202611-08-202610-08-202606-08-202605-08-202604-08-202603-08-2026
BID-TO-COVER RATIO18
4-week Treasury bill2.613.022.812.972.732.842.772.68
6-week Treasury bill3.033.162.932.852.712.972.932.93
8-week Treasury bill2.762.942.823.022.773.062.852.74
13-week Treasury bill2.772.642.612.773.082.862.882.61
17-week Treasury bill2.812.722.732.783.093.353.163.19
26-week Treasury bill2.622.742.882.633.052.972.852.98
52-week Treasury bill3.613.62
2-year Treasury note2.632.6
3-year Treasury note2.722.71
5-year Treasury note2.212.37
7-year Treasury note2.422.5
10-year Treasury note2.712.53
20-year Treasury bond2.572.53
30-year Treasury bond2.612.39
5-year TIPS
10-year TIPS2.24
30-year TIPS2.82
2-Year Floating Rate Note Interest rate2.633.14
Highest accepted interest rate17
4-week Treasury bill3.923.893.843.763.713.73.693.7
6-week Treasury bill3.943.923.813.83.723.713.743.71
8-week Treasury bill4.0743.923.823.743.733.743.78
13-week Treasury bill4.114.073.893.863.83.83.823.84
17-week Treasury bill4.254.1443.963.853.853.863.89
26-week Treasury bill4.34.24.024.023.923.913.963.99
52-week Treasury bill4.164.05
2-year Treasury note4.794.2
3-year Treasury note4.474.29
5-year Treasury note5.034.39
7-year Treasury note5.094.51
10-year Treasury note4.834.68
20-year Treasury bond5.425.2
30-year Treasury bond5.315.22
5-year TIPS (real yield)
10-year TIPS (real yield)2.65
30-year TIPS (real yield)2.97
13-WEEK BILL3
Indirect bidders (including foreign central banks)54.0855.1351.9251.9859.1753.8357.2354.13
Direct bidders8.326.798.067.517.956.796.816.34
Primary dealers (awards retained)37.6138.0840.0240.532.8739.3835.9639.53
26-WEEK BILL3
Indirect bidders (including foreign central banks)54.9360.7664.4447.2960.1664.8754.4656.99
Direct bidders11.716.168.519.2811.210.498.8810.28
Primary dealers (awards retained)33.3533.0927.0543.4228.6324.6536.6632.73
2-YEAR NOTE3
Indirect bidders (including foreign central banks)57.7966.01
Direct bidders29.0223.09
Primary dealers (awards retained)13.1910.9
3-YEAR NOTE3
Indirect bidders (including foreign central banks)62.1564.24
Direct bidders26.9424.02
Primary dealers (awards retained)10.9111.74
5-YEAR NOTE3
Indirect bidders (including foreign central banks)54.3161.51
Direct bidders29.9228.44
Primary dealers (awards retained)15.7710.05
7-YEAR NOTE3
Indirect bidders (including foreign central banks)57.260.78
Direct bidders30.2726.96
Primary dealers (awards retained)12.5312.26
10-YEAR NOTE3
Indirect bidders (including foreign central banks)79.1876.73
Direct bidders16.5114.67
Primary dealers (awards retained)4.318.6
20-YEAR BOND3
Indirect bidders (including foreign central banks)52.4762.93
Direct bidders30.6824.59
Primary dealers (awards retained)16.8512.49
30-YEAR BOND3
Indirect bidders (including foreign central banks)79.4866.85
Direct bidders18.3121.64
Primary dealers (awards retained)2.2111.51
10-YEAR TIPS3
Indirect bidders (including foreign central banks)59.12
Direct bidders28.7
Primary dealers (awards retained)12.18

Latest reading

10-year Treasury note stood at 2.71 Times in Sep 9, 2026. That is +2.3% from a year earlier.

Latest
2.71 Times
Sep 9, 2026
vs a year earlier
+2.3%

About this data

US Treasury auction results and bidder demand metrics from the Department of the Treasury. This dataset tracks bid-to-cover ratios, winning interest rates, and investor awards across bills, notes, bonds, and TIPS. Updated daily since 1979, the figures reveal primary market demand from direct bidders, indirect participants, and primary dealers.

Frequently asked questions

What does a US Treasury auction result measure?
It measures the primary market demand and pricing for newly issued United States debt, including bills, notes, bonds, and TIPS, by recording winning interest rates and total investor bids.
How often are US Treasury auction statistics updated and how far back do they go?
The data is updated daily following new debt offerings by the United States Department of the Treasury, with historical records extending back to 1979.
What bidder categories and breakdowns are available in the table?
The table includes breakdowns by security maturity ranging from short-term bills to long-term bonds and TIPS, alongside investor categories such as direct bidders, indirect bidders including foreign central banks, and primary dealers.
How do analysts interpret the bid-to-cover ratio in United States debt auctions?
The bid-to-cover ratio indicates total investor demand relative to the amount of debt offered by the United States government, where a lower ratio can signal weaker market appetite and potentially push yields higher.
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