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Treasury Auction

5-Year Note

August 28, 2023

B-

Key Metrics

Offered

$46B

Bid-to-Cover

2.54

76th percentile

High Yield

4.400%

Tail

-4.0bp

25th pct (higher=worse)

Indirect

67.9%

60th percentile

Dealer

13.8%

Recent 5-Year Auctions

DateB/CTailIndirectGrade
July 25, 20232.60+4.0bp64.4%C+
June 27, 20232.52+5.9bp68.1%C+
May 24, 20232.58-1.1bp72.7%A-
April 26, 20232.54+7.0bp69.1%B-
March 28, 20232.48+7.5bp68.5%C

5-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History