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Treasury Auction

5-Year Note

February 23, 2022

B-

Key Metrics

Offered

$53B

Bid-to-Cover

2.49

70th percentile

High Yield

1.880%

Tail

+3.0bp

67th pct (higher=worse)

Indirect

67.8%

90th percentile

Dealer

13.8%

Recent 5-Year Auctions

DateB/CTailIndirectGrade
January 25, 20222.50—bp68.7%A+
December 28, 20212.41—bp65.7%A-
November 22, 20212.34—bp56.9%F
October 27, 20212.55—bp64.8%A+
September 27, 20212.37+2.0bp54.3%D

5-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History