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Treasury Auction
2-Year Note
July 28, 2025
D
Key Metrics
Offered
$69B
Bid-to-Cover
2.62
33th percentile
High Yield
3.920%
Tail
+1.0bp
80th pct (higher=worse)
Indirect
55.3%
3th percentile
Dealer
10.3%
Recent 2-Year Auctions
| Date | B/C | Tail | Indirect | Grade |
|---|---|---|---|---|
| June 24, 2025 | 2.58 | -5.4bp | 60.5% | C- |
| May 27, 2025 | 2.57 | —bp | 63.3% | D+ |
| April 23, 2025 | 2.69 | —bp | 48.6% | F |
| April 22, 2025 | 2.52 | +4.5bp | 56.2% | F |
| March 25, 2025 | 2.66 | -5.6bp | 75.8% | B- |