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Treasury Auction

2-Year Note

February 24, 2025

C+

Key Metrics

Offered

$69B

Bid-to-Cover

2.56

16th percentile

High Yield

4.169%

Tail

-2.1bp

43th pct (higher=worse)

Indirect

85.5%

100th percentile

Dealer

6.9%

Recent 2-Year Auctions

DateB/CTailIndirectGrade
January 28, 20253.01bp77.5%B
January 27, 20252.66-5.9bp65.0%C+
December 23, 20242.73+3.5bp82.1%C
November 25, 20242.77-9.6bp71.6%A-
October 29, 20242.95bp75.7%B

2-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History