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Treasury Auction

5-Year Note

March 28, 2023

C

Key Metrics

Offered

$43B

Bid-to-Cover

2.48

62th percentile

High Yield

3.665%

Tail

+7.5bp

84th pct (higher=worse)

Indirect

68.5%

77th percentile

Dealer

13.3%

Recent 5-Year Auctions

DateB/CTailIndirectGrade
February 22, 20232.48-5.1bp70.0%B+
January 25, 20232.64-5.0bp75.7%A+
December 28, 20222.46+3.3bp64.5%C-
November 21, 20222.39-1.6bp66.2%C+
October 26, 20222.48bp68.0%B

5-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History