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Treasury Auction

2-Year Note

February 21, 2023

C+

Key Metrics

Offered

$42B

Bid-to-Cover

2.61

43th percentile

High Yield

4.673%

Tail

bp

Indirect

62.0%

57th percentile

Dealer

15.0%

Recent 2-Year Auctions

DateB/CTailIndirectGrade
January 25, 20232.80bp67.4%B-
January 24, 20232.94-7.1bp65.0%A-
December 27, 20222.71bp62.2%B
November 21, 20222.64-0.5bp57.0%C
October 26, 20222.65bp72.6%B-

2-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History