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Treasury Auction
5-Year Note
September 24, 2025
D-
Key Metrics
Offered
$70B
Bid-to-Cover
2.34
15th percentile
High Yield
3.710%
Tail
+3.0bp
60th pct (higher=worse)
Indirect
59.4%
4th percentile
Dealer
11.9%
Recent 5-Year Auctions
| Date | B/C | Tail | Indirect | Grade |
|---|---|---|---|---|
| August 27, 2025 | 2.36 | -2.6bp | 60.5% | D+ |
| July 28, 2025 | 2.31 | +3.3bp | 58.3% | F |
| June 25, 2025 | 2.36 | +1.9bp | 64.7% | D+ |
| May 28, 2025 | 2.39 | +3.1bp | 78.4% | C+ |
| April 23, 2025 | 2.41 | +1.5bp | 64.0% | C- |