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Treasury Auction
2-Year Note
August 26, 2025
C+
Key Metrics
Offered
$69B
Bid-to-Cover
2.69
56th percentile
High Yield
3.641%
Tail
-8.9bp
5th pct (higher=worse)
Indirect
57.1%
9th percentile
Dealer
9.7%
Recent 2-Year Auctions
| Date | B/C | Tail | Indirect | Grade |
|---|---|---|---|---|
| July 29, 2025 | 2.81 | —bp | 59.7% | D+ |
| July 28, 2025 | 2.62 | +1.0bp | 55.3% | D |
| 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 |