← All Auctions
Treasury Auction
2-Year Note
September 23, 2025
D+
Key Metrics
Offered
$69B
Bid-to-Cover
2.51
9th percentile
High Yield
3.571%
Tail
-3.9bp
38th pct (higher=worse)
Indirect
57.8%
16th percentile
Dealer
11.5%
Recent 2-Year Auctions
| Date | B/C | Tail | Indirect | Grade |
|---|---|---|---|---|
| August 26, 2025 | 2.69 | -8.9bp | 57.1% | C+ |
| 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+ |