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Treasury Auction

7-Year Note

May 25, 2023

B-

Key Metrics

Offered

$35B

Bid-to-Cover

2.61

88th percentile

High Yield

3.827%

Tail

+6.7bp

85th pct (higher=worse)

Indirect

72.3%

88th percentile

Dealer

10.4%

Recent 7-Year Auctions

DateB/CTailIndirectGrade
April 27, 20232.41+11.3bp64.1%D+
March 29, 20232.39+2.6bp63.2%D+
February 23, 20232.49-0.8bp65.5%B-
January 26, 20232.69+0.7bp77.1%A-
December 29, 20222.45-4.9bp68.1%B-

7-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History