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Treasury Auction

7-Year Note

October 28, 2025

F

Key Metrics

Offered

$44B

Bid-to-Cover

2.46

13th percentile

High Yield

3.790%

Tail

0.0bp

57th pct (higher=worse)

Indirect

59.0%

4th percentile

Dealer

13.1%

Recent 7-Year Auctions

DateB/CTailIndirectGrade
September 25, 20252.40+4.3bp56.4%F
August 28, 20252.49-2.5bp77.5%C
July 29, 20252.79-8.8bp62.3%B+
June 26, 20252.53-2.8bp76.7%C+
May 29, 20252.69-7.6bp71.5%A

7-Year Trends

Bid-to-Cover History

Indirect Bidder Allocation History