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Treasury Auction

2-Year Note

October 24, 2023

C-

Key Metrics

Offered

$51B

Bid-to-Cover

2.64

41th percentile

High Yield

5.055%

Tail

+0.5bp

60th pct (higher=worse)

Indirect

62.0%

47th percentile

Dealer

17.6%

Recent 2-Year Auctions

DateB/CTailIndirectGrade
September 26, 20232.73-0.5bp65.0%B-
August 28, 20232.94-0.6bp65.0%B
July 26, 20232.58bp53.3%F
July 24, 20232.78+0.3bp65.5%B-
June 26, 20232.86-4.0bp68.5%A-

2-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History