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Treasury Auction

2-Year Note

June 26, 2023

A-

Key Metrics

Offered

$42B

Bid-to-Cover

2.86

77th percentile

High Yield

4.670%

Tail

-4.0bp

24th pct (higher=worse)

Indirect

68.5%

84th percentile

Dealer

13.3%

Recent 2-Year Auctions

DateB/CTailIndirectGrade
May 23, 20232.90+1.0bp68.2%B
April 26, 20233.04bp69.4%B
April 25, 20232.68-15.1bp61.2%B
March 27, 20232.44+19.4bp52.8%F
February 21, 20232.61bp62.0%C+

2-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History