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Treasury Auction

5-Year Note

June 27, 2023

C+

Key Metrics

Offered

$43B

Bid-to-Cover

2.52

76th percentile

High Yield

4.019%

Tail

+5.9bp

77th pct (higher=worse)

Indirect

68.1%

68th percentile

Dealer

12.2%

Recent 5-Year Auctions

DateB/CTailIndirectGrade
May 24, 20232.58-1.1bp72.7%A-
April 26, 20232.54+7.0bp69.1%B-
March 28, 20232.48+7.5bp68.5%C
February 22, 20232.48-5.1bp70.0%B+
January 25, 20232.64-5.0bp75.7%A+

5-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History