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Treasury Auction

7-Year Note

July 27, 2023

C-

Key Metrics

Offered

$35B

Bid-to-Cover

2.48

63th percentile

High Yield

4.087%

Tail

+9.7bp

95th pct (higher=worse)

Indirect

69.8%

75th percentile

Dealer

14.3%

Recent 7-Year Auctions

DateB/CTailIndirectGrade
June 28, 20232.65-6.1bp75.3%A-
May 25, 20232.61+6.7bp72.3%B-
April 27, 20232.41+11.3bp64.1%D+
March 29, 20232.39+2.6bp63.2%D+
February 23, 20232.49-0.8bp65.5%B-

7-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History