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Treasury Auction

2-Year Note

April 26, 2022

A-

Key Metrics

Offered

$48B

Bid-to-Cover

2.74

63th percentile

High Yield

2.585%

Tail

-4.5bp

0th pct (higher=worse)

Indirect

66.0%

81th percentile

Dealer

12.6%

Recent 2-Year Auctions

DateB/CTailIndirectGrade
March 28, 20222.46+6.5bp55.0%D-
February 22, 20222.64—bp65.6%B-
January 26, 20223.34—bp75.5%A+
January 24, 20222.81—bp66.0%A-
December 27, 20212.55—bp61.4%B-

2-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History