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Treasury Auction

7-Year Note

June 26, 2025

C+

Key Metrics

Offered

$44B

Bid-to-Cover

2.53

29th percentile

High Yield

4.022%

Tail

-2.8bp

50th pct (higher=worse)

Indirect

76.7%

96th percentile

Dealer

11.6%

Recent 7-Year Auctions

DateB/CTailIndirectGrade
May 29, 20252.69-7.6bp71.5%A
April 24, 20252.55-7.7bp59.3%D+
March 27, 20252.53+1.3bp61.2%D
February 26, 20252.64-1.6bp66.1%C+
January 28, 20252.64+2.7bp67.1%C

7-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History