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Treasury Auction

2-Year Note

January 23, 2024

C

Key Metrics

Offered

$60B

Bid-to-Cover

2.57

22th percentile

High Yield

4.365%

Tail

-0.5bp

50th pct (higher=worse)

Indirect

65.3%

63th percentile

Dealer

14.8%

Recent 2-Year Auctions

DateB/CTailIndirectGrade
December 26, 20232.68bp61.9%C
November 27, 20232.54-3.3bp57.4%D+
October 25, 20233.23bp71.7%B+
October 24, 20232.64+0.5bp62.0%C-
September 26, 20232.73-0.5bp65.0%B-

2-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History