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Treasury Auction

2-Year Note

December 27, 2021

B-

Key Metrics

Offered

$56B

Bid-to-Cover

2.55

45th percentile

High Yield

0.769%

Tail

—bp

Indirect

61.4%

82th percentile

Dealer

24.2%

Recent 2-Year Auctions

DateB/CTailIndirectGrade
November 22, 20212.36—bp45.6%F
October 27, 20212.99—bp65.0%B
October 26, 20212.69—bp58.1%B-
September 27, 20212.28—bp45.3%F
August 24, 20212.65+1.2bp60.5%B

2-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History