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Treasury Auction

2-Year Note

April 25, 2023

B

Key Metrics

Offered

$42B

Bid-to-Cover

2.68

63th percentile

High Yield

3.969%

Tail

-15.1bp

0th pct (higher=worse)

Indirect

61.2%

53th percentile

Dealer

18.9%

Recent 2-Year Auctions

DateB/CTailIndirectGrade
March 27, 20232.44+19.4bp52.8%F
February 21, 20232.61bp62.0%C+
January 25, 20232.80bp67.4%B-
January 24, 20232.94-7.1bp65.0%A-
December 27, 20222.71bp62.2%B

2-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History