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Treasury Auction

2-Year Note

April 23, 2025

F

Key Metrics

Offered

$30B

Bid-to-Cover

2.69

52th percentile

High Yield

Tail

bp

Indirect

48.6%

0th percentile

Dealer

49.6%

Recent 2-Year Auctions

DateB/CTailIndirectGrade
April 22, 20252.52+4.5bp56.2%F
March 25, 20252.66-5.6bp75.8%B-
February 24, 20252.56-2.1bp85.5%C+
January 28, 20253.01bp77.5%B
January 27, 20252.66-5.9bp65.0%C+

2-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History